3-BID BOND TEMPLATE.pdf
PDF 73 KB Posted
- Attached to
- IFB - FIREHOUSE SKATE PARK
- Solicitation number
- 26-261
- Issued by
- Washington County, Utah
About this file
This is a Bid Bond template for the City of St. George related to the Firehouse Skate Park project in Utah. The bid bond serves as a financial guarantee accompanying bid submissions for the renovation of Firehouse Park and construction of a new skate park amenity. The document establishes that bidders must submit a bid bond in the amount of 5% of their bid price, with the City of St. George named as the obligee. The bond is conditioned upon either the rejection of the bid or the successful acceptance of the bid coupled with the bidder's execution of a contract in the specified form and provision of a 100% performance bond covering both labor and materials. The surety company issuing the bond is held jointly and severally liable with the principal bidder for faithful performance of the agreement and all related obligations.
The bid bond amount equals 5% of the submitted bid price and must be issued by a surety company licensed to conduct business in the State of Utah and appearing on the Treasury Department's current list (Circular 570 as amended). The surety's liability is capped at the penal amount of the bond and cannot be impaired or affected by any extension of the City's time to accept the bid. The City of St. George reserves the right to reject any or all submissions and to waive any formality or technicality in any proposal at its discretion. The template was approved by the City's Legal Department in May 2024.
View the file
Other files
| File | Type | Posted |
|---|---|---|
| 1-26-261 Bid Schedule.xls | XLS spreadsheet | |
| 5-MAJOR SUBCONTRACTOR LISTING.docx | DOCX document | |
| 4-sample - CERTIFICATE OF INSURANCE.pdf | ||
| 2-26-261 FIREHOUSE PARK 2026 PLANS.pdf | ||
| 6-26-261 Contract Documents FIREHOUSE SKATE PARK.pdf |
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Text version
BID BOND
Project Name:
Inquiry No.
KNOW ALL MEN BY THESE PRESENTS, that we, the undersigned, as
Principal, and as Surety, are hereby held and firmly bound unto The City of St. George in the penal sum of for the payment of which, well and truly to be made, we hereby jointly and severally bind ourselves, successors and assigns.
Signed, this day of , 20 . The Condition of the above obligation is such that whereas the Principal has submitted to a certain BID, attached hereto and hereby made a part hereof to enter into a contract in writing, for the construction of the above-named project.
NOW, THEREFORE,
(a) If said BID shall be rejected, or
(b) If said BID shall be accepted and the Principal shall execute and deliver a contract in the Form of
Contract attached hereto (properly completed in accordance with said BID) and shall furnish a
BOND for his faithful performance of said contract, and for the payment of all persons performing labor or furnishing materials in connection therewith, and shall in all other respects perform the agreement created by the acceptance of said BID, THEN this obligation shall be void, otherwise the same shall remain in force and effect; it being expressly understood and agreed that the liability of the Surety for any and all claims hereunder shall, in no event, exceed the penal amount of this obligation as herein stated.
The Surety, for value received, hereby stipulates and agrees that the obligations of said Surety and its
BOND shall be in no way impaired or affected by any extension of the time within which the CITY may accept such BID; and said Surety does hereby waive notice of any such extension.
Form approved by Legal May, 2024 Page 18 of 54
IN WITNESS WHEREOF, the Principal and the Surety have hereunto set their hands and seals, and such of them as are corporations have caused their corporate seals to be hereto affixed and these presents to be signed by their proper officers, the day and year first set forth above.
Principal
Surety
By:
IMPORTANT - 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 where the project is located.
| Principal: |
| By: |
| undefined: |
| 1: |
| 2: |
| Month: |
| Year: |
| Day: |
| Bond Company: |
| City of St: |
| George: |
| Name of Bidder: |
| 5% of Bid: |
| Project Name: |
| Bid Number: |
File details come from the government source that posted it. Updated .