3-00 43 13 Bid Bond DAP.pdf
PDF 383 KB Posted
- Solicitation number
- 26-0277
- Issued by
- Tarrant County, Texas
About this file
This is a Bid Bond form for the City of Fort Worth, Texas, related to the Comancheria Way 24 Inch Water Line project (City Project Number 106854). The project involves the installation of approximately 1,530 linear feet of 24-inch PVC water line using open-cut construction methods, with one crossing encased in approximately 20 linear feet of CSS backfill. The scope of work includes two gate valves with vaults, one blow-off valve, and one 4-inch combination air release valve. This bid bond form is required for publicly bid projects only and must be submitted by bidders as part of their proposal submission.
The bid bond serves as a surety instrument guaranteeing that the successful bidder will execute the construction contract in accordance with their proposal terms and all requirements. The bond amount is to be specified by the City and will be held as security. Should the principal (bidder) fail to execute the contract as proposed or fail to satisfy all execution requirements, the bond becomes the property of the City without recourse and may be used to compensate the City for the difference between the principal's bid amount and the next selected bidder's total bid amount. The form requires signatures from both the principal and the surety's attorney-in-fact, along with a power of attorney document and impressed surety seal.
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Text version
00 43 13
DAP BID BOND FORM FOR PUBLICLY BID PROJECTS ONLY
CITY OF FORT WORTH
STANDARD CONSTRUCTION BID BOND FORM – DEVELOPER AWARDED PROJECTS 00 43 13_Bid Bond_DAP (2) Form Version April 2, 2014
SECTION 00 43 13
DAP - BID BOND
BY THESE PRESENTS:
That we, ______________________ called the Principal, and _________________ a corporation or firm duly authorized to transact surety business in the State of Texas, hereinafter called the Surety, are held and firmly bound unto the City, hereinafter called the Obligee, in the sum of ___________________ ___________ and No/100 Dollars said Principal and the said Surety, bind ourselves, our heirs, executors, administrators, successors and assigns, jointly and severally, firm by these presents.
WHEREAS the Principal has submitted a proposal to perform work for the following project of the Obligee identified as:
Comancheria Way 24 Inch Water Line
NOW, THEREFORE, if the Obligee shall award the Contract for the foregoing project to the Principal, and the Principal shall satisfy all requirements and conditions required for the execution of the Contract and shall enter into the Contract in writing with the Obligee in accordance with the terms of such proposal, then this bond shall be null and void. If the Principal fails to execute such Contract in accordance with the terms of such proposal or fails to satisfy all requirements and conditions required for the execution of the Contract in accordance with the proposal, this bond shall become the property of the Obligee, without recourse of the Principal and/or Surety, not to exceed the penalty hereof, and shall be used to compensate Obligee for the difference between Principal’s Total Bid Amount and the next selected Bidder’s Total Bid Amount.
SIGNED this ________ day of __________________, 20___.
By: ___________________________
(Signature and Title of Principal)
By: ___________________________
(Signature of Attorney-of-Fact)
*Attach Power of Attorney (Surety) for Attorney-in-Fact Impressed Surety Seal Only
END OF SECTION
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