3-03 - Exhibit B-3 Bid Bond Form - 2026 Residential Chip Seal Project ST26CS.pdf
PDF 479 KB Posted
- Attached to
- 2026 Residential Chip Seal Project No. ST26CS
- Solicitation number
- 26-3441
- Issued by
- Deschutes County, Oregon
About this file
This is a Bid Bond Form (Exhibit B-3) for the City of Bend, Oregon's 2026 Residential Chip Seal Project (ST26CS, Solicitation No. 26-3441). The project encompasses approximately 26 lane miles and 187,679 square yards of chip seal work on residential streets within the City of Bend, including High Float Rapid Set (HFRS) chip seal applications, 3/8 and minus rock HFRS-P-2 and HFRS-P-1 materials, and dilute 50/50 fog seal treatments.
Bidders are required to submit a bid bond in the amount of 5 percent of their total bid price to secure their commitment to execute the contract if awarded. The bid bond obligates the principal contractor and surety to either enter into the contract with required performance and payment bonds or forfeit the bond amount to the City. Alternatively, bidders may submit cash security in the form of cash, certified check, or cashier's check in lieu of a bid bond, or use an alternate bid bond form provided it contains equivalent terms and conditions. The bid bond obligation is released upon either the principal's execution of the contract with required performance and payment bonds or if the principal is not awarded the contract.
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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 Residential Chip Seal Project, ST26CS - Solicitation No. 26-3441, 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 .