3-IFB - Bid Bond.pdf
PDF 57 KB Posted
- Attached to
- Abiquiu Hydroelectric Crane Replacement
- Solicitation number
- IFB27-28
- 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 for the Abiquiu Hydroelectric Crane Replacement project in New Mexico. The bond serves as a financial guarantee that a bidder will enter into a contract if their bid is accepted. The form requires the bidder to provide their company name, solicitation number, and solicitation title, along with identification of the surety company that will guarantee the bond. The bond is structured as a binding agreement between the principal (bidder/contractor), the surety (bonding company), and the County of Los Alamos as obligee.
The bid bond amount is set at five percent (5%) of the total bid price and must be signed and attested by authorized representatives of both the principal and surety. The bond conditions specify that the principal must enter into a contract with the County upon bid acceptance, provide any additional performance bonds as required in the solicitation documents, and faithfully perform all work in accordance with the bid terms. Should the principal fail to execute the contract or provide required performance bonds, the County may accept another bid and the principal becomes liable for any cost difference between the original bid and the replacement contract. The surety waives notice of any extensions granted by the County for bid acceptance and agrees that such extensions will not impair or affect the bond's obligations.
View the file
Other files
On GovTribe
Work with this file
- Download the original file
- Contacts named in this file
- Similar government files
- Ask GovTribe AI about this file
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 .