3-BID BOND.pdf
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- Attached to
- CDCA Sanitary Sewer Rehabilitation - Phase 2
- Solicitation number
- Not on record
- Issued by
- Delaware County, Pennsylvania
About this file
This is a Bid Bond template document for the Central Delaware County Authority (CDCA) in Pennsylvania, establishing the bonding requirements for sealed bidding procurements. The bid bond secures the principal contractor's commitment to submit a formal bid, refrain from withdrawing the bid within the specified timeframe following bid opening, and execute a written contract with the CDCA within 10 days of award notification. The bond obligates the principal and surety to either perform under the accepted bid or compensate the CDCA for any cost differential incurred if the contractor procures materials, supplies, or services elsewhere at a higher cost, along with any additional expenses the Authority incurs. The template requires execution by authorized representatives of both the principal (individual or corporate) and the surety company, with corporate signatories requiring certification of authority and proper corporate seals.
The bond amount is variable and corresponds to the specific procurement requirements. For the related sanitary sewer rehabilitation project, the bid security requirement is $200.00, while for the line cleaning and video inspection project, the requirement is 10% of the total bid amount. Bidders must provide the bond in the form of a certified check or bid bond payable to the CDCA. The bond must be accompanied by a Power of Attorney for any surety company representative executing the document. Upon contract award, successful bidders are required to provide a Contractor's Performance Bond and Labor and Materials Bond in an amount not less than the total accepted bid, with surety companies approved by the Authority. No bidder may withdraw their bid within 60 days after the bid opening date.
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Text version
SECTION 00310
BID BOND
KNOW ALL MEN BY THESE PRESENTS, THAT WE, as PRINCIPAL, and as SURETY, are held and firmly bound unto the (hereinafter called the OWNER), in the penal sum of ($ ) lawful money of the United States, for payment of which sum well and truly to be made, we bond ourselves, our heirs, executors, administrators and successors, jointly and severally, firmly by these presents.
THE CONDITION OF THE OBLIGATION IS SUCH that whereas the Principal has submitted the accompanying Bid dated for .
NOW, THEREFORE, if the Principal shall not withdraw said Bid within the time specified therein after the opening of the same, and shall within 10 days after the Principal is notified by the Owner of the award of such Contract to him, enter into a written contract with the Owner, in accordance with the Bid as accepted; and give bond with good and sufficient surety or sureties as may be required for the faithful performance and proper fulfillment and labor supplied, if required in said Contract; or in event of the withdrawal of said Bid within the period specified, or the failure to enter into such Contract and give such bonds within the time specified if the Principal shall pay the Owner the difference between the amount specified in said Bid and the amount for which the Owner may procure the required materials or supplies, or both, if the latter amount of the former, together with any other expenses and costs that may have been incurred by the Owner, then the above obligation shall be void and of no effect, otherwise to remain in full force and virtue.
IN WITNESS WHEREOF, the above bonded parties have executed this instrument under their several seals this day of , 20 , the name and corporate seal of each corporate party being hereto affixed and these presents duly signed by its undersigned representative, pursuant to authority of its governing body.
WITNESSED BY:
(Individual Principal) (Name of Partner)
(Business Address)
ATTEST:
(Corporate Principal) (Corporate Surety)
By:
(Business Address)
SEAL
(Power of Attorney for person signing for Surety Company must be attached to Bond.)
CERTIFICATE AS TO CORPORATE PRINCIPAL
I, , certify that I am the Secretary of the corporation as Principal in the within bond; and that who signed the said bond on behalf of the Principal was then the of said corporation; that I know his signature, and his signature thereto is genuine; and that said bond was duly signed, sealed and attested to for an in behalf of said corporation by the authority of its governing body.
(Corporate Seal)
We, the undersigned, will provide as Principal, a Performance and Payment Bond on the form provided, to the Owner in the penal sum of the Principal's bid for
(Surety)
(Address)
Date:
Signed:
(Attorney-in-fact)
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