3-03-Exhibit B-3 - 2026 Street Pres 26-3443.pdf
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- Attached to
- 2026 Street Preservation
- Solicitation number
- 26-3443
- Issued by
- Deschutes County, Oregon
About this file
This is a Bid Bond Form issued by the City of Bend, Oregon, for the 2026 Street Preservation project (Project No. ST26FA, Solicitation No. 26-3443). The project encompasses 7.5 lane miles of asphalt concrete pavement restoration work, including 2-inch grind with 2-inch inlay and 4-inch grind with 4-inch inlay treatments. Sealed bids are being solicited for this construction project. The bid bond secures the contractor's commitment to execute the contract upon award and provide required performance and payment bonds within the specified terms.
The bid bond amount is set at 5 percent of the bid price. Bidders may submit either a bid bond from a licensed surety or provide cash security in the form of cash, certified check, or cashier's check as an alternative to the formal bond. Upon contract award, the principal contractor must sign the contract and provide both performance and payment bonds; failure to do so results in forfeiture of the bid bond amount to the City. The bid bond obligations are released only if the contractor executes the required contract with appropriate bonds or if the bid is not awarded.
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Text version
B-3 BID BOND FORM
BID BOND
This Bid Bond is issued by ______________________, as Contractor (“Principal”), and _______________________________________________ as surety (“Surety”) are bound to the City of Bend (City) in the amount of 5 percent of Bid amount to secure Principal’s execution of a Contract if City awards a contract to Principal based on Principal’s Bid.
If City awards Principal a contract for any portion of the 2026 Street Preservation, Project No.
ST26FA - Solicitation No. 26-3443, Principal shall enter into the contract according to the terms of Principal’s Bid and provide performance and payment bonds. If Principal fails to do so, it shall pay City the amount stated above. If Principal does not enter into the contract secured by performance and payment bonds and does not pay the amount stated above, Surety shall pay to City the amount stated above. The obligations of Principal and Surety under this Bid Bond shall be released if Principal signs the required contract and provides the required performance and payment bonds or if the Principal is not awarded the Contract.
SIGNED, SEALED AND DATED THIS _______ DAY OF ___________, 20________.
Principal_______________________________
Surety_________________________________
(Bidders may use an alternate Bid bond form, so long as it provides for payment by a surety of 5 percent of the Bid price if the Bid is awarded and bidder fails to sign the contract, provide required bonds, or pay the 5 percent penalty.)
Bidders may submit cash security (cash or certified or cashier’s check) rather than a Bid bond.
File details come from the government source that posted it. Updated .