2-IFB - Bid Bond.pdf
PDF 57 KB Posted
- Attached to
- East Road 14" Water Line Replacement
- Solicitation number
- IFB26-37
- Issued by
- Los Alamos County, New Mexico
About this file
This is a Bid Bond form required by the County of Los Alamos Procurement Division for the East Road 14" Water Line Replacement project in New Mexico. The bid bond secures the bidder's commitment to enter into a contract should their bid be accepted by the County. The bond amount is set at five percent (5%) of the total bid amount and must be executed by the principal bidder and a surety authorized to conduct business in New Mexico. The bond obligates the bidder to enter into a contract with the County upon acceptance of their bid, provide any required performance and payment bonds as specified in the solicitation documents, and perform all work in accordance with the bid terms. If the bidder fails to execute the required contract and bonds, the County may procure the work from another party and the bonding surety remains liable for any difference between the original bid amount and the actual contract cost awarded to an alternative contractor.
The bid bond form requires signatures from both the principal (bidder company) and surety, along with printed names and titles, and must be dated and attested. The specific bid amount in dollars must be inserted into the bond document. The surety waives notice of any extensions the County may grant for bid acceptance, and the bond remains in full force and effect unless the specified conditions are satisfied through successful contract execution and performance.
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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 .