2-IFB - Bid Bond.pdf
PDF 57 KB Posted
- Solicitation number
- IFB26-24R
- Issued by
- Los Alamos County, New Mexico
About this file
This document is a Bid Bond template for the Incorporated County of Los Alamos Procurement Division, located at 101 Camino Entrada, Building 3, in Los Alamos, New Mexico. The bid bond is a standard form that requires the Principal (bidding company) and a Surety to guarantee the bid's integrity, with the bond amount set at five percent (5%) of the total bid value. The document outlines the conditions under which the Principal must enter into a contract with the County if their bid is accepted, including provisions for faithful performance and prompt payment of labor and materials.
The bid bond serves as a financial protection mechanism for the County, ensuring that if the Principal fails to enter into the contract or perform as specified, the Surety will be responsible for covering the difference between the original bid amount and any larger amount the County may need to spend to complete the project. The document includes signature lines for the Principal and Surety, with spaces for date, printed names, titles, and attestation, allowing the form to be completed for a specific solicitation. This standardized form is version 20250630 and provides a legal framework for protecting the County's interests during the bidding and contract award process.
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Text version
1.5.4 Bid Bond
Incorporated County of Los Alamos Procurement Division
101 Camino Entrada, Building 3 Los Alamos, NM 87544
Version: 20250630
Bidder Company Name:
Solicitation No.:
Solicitation Title:
As Principal, hereinafter called the Principal or Contractor, and ______________________, a corporation duly organized and existing under and by virtue of the laws of the State of
___________________ and authorized to do business in the State of New Mexico, as Surety hereinafter called the Surety, are held and firmly bound unto the County of Los Alamos, New
Mexico, as Obligee, hereinafter called the County, in the sum of five (5%) percent of the Bid, ______________________________________________________dollars - $ __________ for the payment of which sum Principal and Surety bind themselves, their heirs, executors, and administrators, successors, and assigns, jointly and severally. The conditions of this Bond are such that whereas the Principal has submitted the accompanying Bid for the above referenced solicitation, which Bid is by reference made a part hereof and is hereinafter referred to as the Bid and, if the County shall accept the Bid of the Principal and the Principal shall enter into a Contract with the County in accordance with the terms of such a Bid, and give such bond or bonds as may be specified in the bidding or solicitation documents with good and sufficient surety for the faithful performance of such contract and for the prompt payment of labor and material furnished in the prosecution thereof, and shall in all other respects perform the agreement created by the acceptance of said Bid, or in the event of the failure of the Principal to enter into such contract and give such bond and bonds, if the Principal shall pay the County the difference between the amount specified in said bid and such larger amount which the County may in good faith
Bid Bond continued contract with another party to perform the work covered by said bid, then this obligation shall be null and void, otherwise to remain in full force and effect. The Surety, for value received, hereby stipulates and agrees that the obligations of said Surety and its Bond shall be in no way Impaired or affected by any extension of the time within which the County may accept such Bid; and said
Surety does hereby waive notice of any such extension.
SIGNED AND ATTEST this ________________ day of __________________, 20____.
PRINCIPAL:
By: _________________________________________________
Print Name: __________________________________________
Title: ________________________________________________
ATTEST: ____________________________________________
SURETY:
By: _________________________________________________
Print Name: __________________________________________
Title: ________________________________________________
ATTEST: ____________________________________________
File details come from the government source that posted it. Updated .