4-00 43 13 Bid Bond DAP.pdf
PDF 120 KB Posted
- Attached to
- PW-Cibolo Hills Parkway
- Solicitation number
- 26-0148
- Issued by
- Tarrant County, Texas
About this file
This is a Bid Bond document related to the PW-Cibolo Hills Parkway project in Texas. The bid bond establishes the financial security requirements for contractors submitting proposals on this infrastructure improvement project, which includes approximately 1,569 linear feet of 16-inch PVC waterline, 348 linear feet of 16-inch DIP waterline with 30-inch steel casing, 1,069 to 1,010 linear feet of reinforced concrete pipe and storm box culverts with associated drainage appurtenances, 6,369 square yards of 10-inch concrete pavement, 24,287 square feet of concrete sidewalk, lime stabilization, pavement markings, and signage. The project also encompasses 22 roadway lighting assemblies featuring LED fixtures, conduit, electrical conductors, and foundations.
The bid bond document specifies the surety requirements and conditions that bidders must satisfy to have their proposals considered for award. This financial guarantee ensures contractor performance and compliance with contract terms. The bond protects the project owner against bidder default and establishes the monetary commitment required from each bidder participating in the procurement process for the Cibolo Hills Parkway infrastructure improvements.
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Text version
00 43 13
DAP BID BOND FORM FOR PUBLICLY BID PROJECTS ONLY
CITY OF FORT WORTH
STANDARD CONSTRUCTION BID BOND FORM – DEVELOPER AWARDED PROJECTS 00 43 13_Bid Bond_DAP (1) Form Version April 2, 2014
SECTION 00 43 13
DAP - BID BOND
BY THESE PRESENTS:
That we, <Bidding Company Name> called the Principal, and <Surety Name Here> 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, hereinafter called the Obligee, in the sum of <Spell Out Numbers Here> and No/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:
Cibolo Hills Parkway
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: <Bidding Company Name Here>
(Signature and Title of Principal)
By: <Surety Name Here>
(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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