3-IFB - Bid Bond.pdf
PDF 57 KB Posted
- Attached to
- Tank Piping Upgrade Phase II
- Solicitation number
- IFB26-61
- Issued by
- Los Alamos County, New Mexico
About this file
This is a Bid Bond form issued by the County of Los Alamos Procurement Division in New Mexico, applicable to the Tank Piping Upgrade Phase II project. The bid bond serves as a financial guarantee that accompanies the bidder's submission and ensures the principal's commitment to enter into a contract with the County if selected. The bond is required as part of the solicitation process and must be executed by both the principal (bidder) and an authorized surety company organized under the laws of a U.S. state and authorized to conduct business in New Mexico. The document provides spaces for completion with bidder company name, solicitation number, solicitation title, surety company information, bond amount, execution date, and signature blocks for authorized representatives of both the principal and surety.
The bid bond amount is established at five percent (5%) of the total bid price, with the specific dollar amount to be filled in by the bidder. The bond obligation remains in effect as long as the principal either enters into a contract with the County and provides the required performance and payment bonds with acceptable surety, or pays the County the difference between the bid amount and any higher amount the County must pay to another contractor to perform the work. The surety waives notice of any extensions granted by the County for bid acceptance, and the bond conditions protect the County against the principal's failure to execute the contract or meet its obligations under the accepted bid.
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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 .