4-00 43 13 Bid Bond DAP.pdf
PDF 63 KB Posted
- Attached to
- PW-Sewer Improvements to serve Alpha Ranch Master Infrastructure Sewer, City Project No. 105879
- Solicitation number
- 26-0057
- Issued by
- Tarrant County, Texas
About this file
This is a Standard Construction Bid Bond Form for a publicly bid project issued by the City of Fort Worth for the Alpha Ranch Master Infrastructure Sewer project (City Project No. 10587900) in partnership with CTMGT Alpha Ranch, LLC. The project involves sewer improvements consisting of approximately 24,191 linear feet of sewer pipe in various sizes: 5,437 LF of 30" pipe, 3,070 LF of 27" pipe, 780 LF of 24" pipe, 1,113 LF of 21" pipe, 5,514 LF of 18" pipe, 6,316 LF of 15" pipe, and 1,961 LF of 12" pipe. The bid bond form requires the successful principal to execute a contract with the City of Fort Worth and CTMGT Alpha Ranch, LLC in accordance with the terms of their proposal, contingent upon award.
The bid bond serves as a performance guarantee, with the penalty amount to be determined by the parties. If the principal fails to execute the contract according to the proposal terms or satisfy all requirements and conditions for contract execution, the bond becomes the property of the obligee without recourse and shall be used to compensate the obligee for the difference between the principal's total bid amount and the next selected bidder's total bid amount. The bond requires execution by an authorized surety corporation licensed to transact business in the State of Texas and must include a Power of Attorney for the Attorney-in-Fact, with a surety seal required on the executed document.
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Text version
00 43 13
DAP BID BOND FORM FOR PUBLICLY BID PROJECTS ONLY
CITY OF FORT WORTH Alpha Ranch Master Infrastructure Sewer
STANDARD CONSTRUCTION BID BOND FORM – DEVELOPER AWARDED PROJECTS City Project No. 10587900 43 13_Bid Bond_DAP
Form Version April 2, 2014
SECTION 00 43 13
DAP - BID BOND
BY THESE PRESENTS:
That we, _______________________________ called the Principal, and
_____________________________ a corporation or firm duly authorized to transact surety business in the State of Texas, hereinafter called the Surety, are held and firmly bound unto the City of Fort Worth and CTMGT Alpha Ranch, LLC, hereinafter called the Obligee, in the sum of
_____________________________ and __/100 Dollars said Principal and the said Surety, bind ourselves, our heirs, executors, administrators, successors and assigns, jointly and severally, firm by these presents.
WHEREAS the Principal has submitted a proposal to perform work for the following project of the Obligee identified as:
Sewer Improvements to serve Alpha Ranch Master Infrastructure Sewer
NOW, THEREFORE, if the Obligee shall award the Contract for the foregoing project to the
Principal, and the Principal shall satisfy all requirements and conditions required for the execution of the
Contract and shall enter into the Contract in writing with the Obligee in accordance with the terms of such proposal, then this bond shall be null and void. If the Principal fails to execute such Contract in accordance with the terms of such proposal or fails to satisfy all requirements and conditions required for the execution of the Contract in accordance with the proposal, this bond shall become the property of the
Obligee, without recourse of the Principal and/or Surety, not to exceed the penalty hereof, and shall be used to compensate Obligee for the difference between Principal’s Total Bid Amount and the next selected Bidder’s Total Bid Amount.
SIGNED this ________ day of __________________, 20___.
By:
(Signature and Title of Principal)
By:
(Signature of Attorney-of-Fact)
*Attach Power of Attorney (Surety) for Attorney-in-Fact Impressed
Surety Seal
Only
END OF SECTION
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