3-IFB - Bid Bond.pdf
PDF 57 KB Posted
- Solicitation number
- IFB26-30
- Issued by
- Los Alamos County, New Mexico
About this file
This is a Bid Bond document issued by the County of Los Alamos Procurement Division in New Mexico for the Trinity Drive/NM 502 ADA and Safety Improvements Project (CN 5101390). The bid bond serves as a surety instrument requiring the principal contractor and surety to guarantee performance on the submitted bid. The bond obligates the principal and surety jointly and severally to the County of Los Alamos for the faithful performance of the contract work, which includes pavement maintenance and reconstruction on NM 502 from Oppenheimer Drive to Knecht Street, installation of multimodal infrastructure improvements including bicycle lanes and widened sidewalks, construction of a bus bay, and utility work encompassing replacement of 2,200 linear feet of water mains, fire hydrant replacement, gas valve installation at six locations, and electric conduit crossings at two locations.
The bid bond is set at five percent (5%) of the bid amount and requires execution by both the principal and an authorized surety corporation. The surety waives notice of any extension of the time within which the County may accept the bid. The bond obligates the principal to either enter into the contract with the County and provide any required performance bonds with good and sufficient surety, or alternatively, to pay the County the difference between the bid amount and any higher amount the County must expend to secure another contractor for the work. The document requires completion of fields identifying the bidder company name, solicitation number, solicitation title, bid amount in dollars, and signature blocks with dates and titles for both the principal and surety representatives.
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Text version
1.5.4 Bid Bond
Incorporated County of Los Alamos Procurement Division
101 Camino Entrada, Building 3 Los Alamos, NM 87544
Version: 20250630
Bidder Company Name:
Solicitation No.:
Solicitation Title:
As Principal, hereinafter called the Principal or Contractor, and ______________________, a corporation duly organized and existing under and by virtue of the laws of the State of
___________________ and authorized to do business in the State of New Mexico, as Surety hereinafter called the Surety, are held and firmly bound unto the County of Los Alamos, New
Mexico, as Obligee, hereinafter called the County, in the sum of five (5%) percent of the Bid, ______________________________________________________dollars - $ __________ for the payment of which sum Principal and Surety bind themselves, their heirs, executors, and administrators, successors, and assigns, jointly and severally. The conditions of this Bond are such that whereas the Principal has submitted the accompanying Bid for the above referenced solicitation, which Bid is by reference made a part hereof and is hereinafter referred to as the Bid and, if the County shall accept the Bid of the Principal and the Principal shall enter into a Contract with the County in accordance with the terms of such a Bid, and give such bond or bonds as may be specified in the bidding or solicitation documents with good and sufficient surety for the faithful performance of such contract and for the prompt payment of labor and material furnished in the prosecution thereof, and shall in all other respects perform the agreement created by the acceptance of said Bid, or in the event of the failure of the Principal to enter into such contract and give such bond and bonds, if the Principal shall pay the County the difference between the amount specified in said bid and such larger amount which the County may in good faith
Bid Bond continued contract with another party to perform the work covered by said bid, then this obligation shall be null and void, otherwise to remain in full force and effect. 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 County may accept such Bid; and said
Surety does hereby waive notice of any such extension.
SIGNED AND ATTEST this ________________ day of __________________, 20____.
PRINCIPAL:
By: _________________________________________________
Print Name: __________________________________________
Title: ________________________________________________
ATTEST: ____________________________________________
SURETY:
By: _________________________________________________
Print Name: __________________________________________
Title: ________________________________________________
ATTEST: ____________________________________________
File details come from the government source that posted it. Updated .