2-ITB 27-402 - Section 00300 - Bid Bond.pdf
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- Attached to
- Removal and Replacement of Telemetry Cabinets for Existing SCADA System - Phased Projects
- Solicitation number
- ITB No.: 27-402/DL
- Issued by
- Palm Beach County, Florida
About this file
This is a Bid Bond form for Invitation to Bid (ITB) No. 27-402/DL issued by the Solid Waste Authority of Palm Beach County, Florida for the removal and replacement of telemetry cabinets for existing Supervisory, Control, And Data Acquisition (SCADA) systems through phased projects. The project requires replacement of thirty-three (33) telemetry cabinets and will be executed by a licensed Florida General or Electrical Contractor responsible for providing all labor, materials, equipment, and incidentals necessary for construction. The contract will be structured as an initial three (3) year period with an option to renew for an additional one (1) year at the Authority's sole discretion. Bidders must submit responses electronically through Bonfire by specified deadlines and are required to confirm submission for validity.
Bid security must be provided in the form of a surety company Bid Bond or Cashier's check in an amount equal to five percent (5%) of the total bid amount. The surety company executing the bond must appear on the U.S. Treasury Department's current list (Circular 570 as amended) and be authorized to transact business in the State of Florida in accordance with Florida Statute 287.0935, with approval by the Solid Waste Authority of Palm Beach County. If the bid is accepted and the principal executes the contract and furnishes all required insurance and performance bonds within twenty-one (21) days of Notice of Award, the bid bond obligation becomes void; otherwise, the bid security will be retained as liquidated damages for delay and additional expenses incurred by the Authority.
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Text version
SECTION 00300
BID FORM
ITB No.: 27-402/DL - 24 – Removal & Replacement of Telemetry Cabinets for Existing SCADA Systems – Phased Projects
BID BOND
KNOW ALL MEN BY THESE PRESENTS, that we, the undersigned:
_____________________________________________________________________ as Principal and (Name of Bidder)
_____________________________________________________________________ as Surety, are (Name of Surety) hereby held and firmly bound unto the Solid Waste Authority of Palm Beach County (“AUTHORITY”), West Palm Beach, Florida, as Obligee, in the sum of 5% of Bid Price, well and truly to be made, and we hereby jointly and severally bind ourselves, our heirs, executors, administrators, successors, and assigns.
The documents, including the power of attorney, to be attached to this Bid Bond, will become the property of the AUTHORITY in the event: a) the required Bonds, insurance and other required documentation are not provided to the AUTHORITY; and b) the Contract is not executed within twenty-one ( 21 ) days of the Notice of Award, the Bidder/Principal shall be in default and the Bid Security shall be paid to the AUTHORITY as liquidated damages for the delay and additional expenses to the AUTHORITY caused thereby.
The condition of this obligation is such that the Principal has submitted to the Solid Waste Authority of Palm Beach County a certain Bid to which this Bid Bond is attached and made a part hereof, to enter into a contract in writing, hereinafter referenced to as the Replacement of Telemetry Cabinets.
NOW THEREFORE,
a. If said Bid shall be rejected or withdrawn as provided in the Invitation to Bid and Instructions to BIDDERS or, in the alternative,
b. If said Bid shall be accepted and the Principal shall duly execute and deliver a Contract in substantially similar form of
Contract attached hereto and approved by the AUTHORITY and shall furnish all insurance requirements, the specified bond for the faithful performance of the Contract and for the payment of labor and materials furnished for the performance of the Contract, then this obligation shall be void. Otherwise it shall remain in full force and effect, it being expressly understood and agreed that the liability of the surety for any and all claims hereunder in no event shall exceed the amount of this obligation.
The Surety, for value received, hereby agrees that the obligations of said Surety and its bond shall be in no way impaired or affected by any extensions of the time within which such Bid may be accepted, and said Surety does hereby waive notice of any such extensions.
SECTION 00300
BID FORM
ITB No.: 27-402/DL - 25 – Removal & Replacement of Telemetry Cabinets for Existing SCADA Systems – Phased Projects
In WITNESS WHEREOF, the parties hereto have duly executed this bond on the ______ day of ______________________, 20_____.
PRINCIPAL: _______________________________________
By: _________________________________________ Signature Witness: (Seal) Name: _________________________________________
1. ____________________________ Title: _________________________________________
2. ____________________________ Address: _________________________________________
Telephone: (______) _________________________________
SURETY: _________________________________________
By: __________________________________________ Signature Witness: (Seal) Name: _________________________________________
1. ____________________________ Title: _________________________________________
2. ____________________________ Address: _________________________________________
Telephone: (______) __________________________________
Surety companies executing bonds must appear on the Treasury Department’s most current list (Circular 570 as amended) and be authorized to transact business in the State of Florida, in accordance with Florida Statute 287.0935, and be approved by the Solid Waste Authority of Palm Beach County.
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