4-03 Bid Bond.pdf
PDF 135 KB Posted
- Attached to
- Pavement Preservation Services (Slurry Seal)
- Solicitation number
- Bid #34-05-26
- Issued by
- Bell County, Texas
About this file
This is a Bid Bond form required by the City of Temple, Texas, for the Pavement Preservation Services (Slurry Seal) contract opportunity. The bid bond serves as a financial guarantee that a bidder will execute the contract if awarded and provide the required performance and payment bonds upon contract execution. The project involves slurry seal resurfacing of city streets using a mixture application containing water, asphalt emulsion, aggregate, and additives applied to existing asphalt pavement surfaces. No milling is required for any street locations; however, striping is required for select high-traffic street areas. The contract will be awarded in its entirety to a single bidder, and all bidders must submit bids on every line item to be considered for award. The estimated project budget is $2,250,000.
The bid bond requires the principal (bidder) and surety to bind themselves jointly and severally to the City of Temple for the full bid bond amount as stated in the document. If the principal withdraws its bid after opening or fails to execute the contract and provide satisfactory performance and payment bonds upon award, the city is entitled to collect the full bid bond amount as liquidated damages. The form must be completed and either uploaded to EUNA Procurement or submitted as a hard copy, and a power of attorney from the surety must be attached. Venue for any legal action on the bond is specified as Bell County, Texas.
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Text version
COMPLETE & UPLOAD TO EUNA PROCUREMENT
OR SUBMIT VIA HARD COPY
BID BOND
THE STATE OF TEXAS § SURETY'S NO. ___________
COUNTY OF §
KNOW ALL MEN BY THESE PRESENTS, THAT
(hereinafter called the Principal), as Principal, and
(hereinafter called the Surety), as Surety, are bound unto the City of Temple, Texas, a home rule municipal corporation of Bell County, Texas (hereinafter called Obligee) in the amount
DOLLARS ($ ), for the payment whereof said Principal and Surety bind themselves, and their heirs, administrators, executors, successors and assigns, jointly and severally, firmly by these presents.
WHEREAS, the Principal has submitted a Bid to enter into a certain written Contract with the
City of Temple for the construction of the following:
PAVEMENT PRESERVATION SERVICES (SLURRY SEAL)
NOW, THEREFORE, THE CONDITION OF THIS OBLIGATION IS SUCH, that if the said Principal shall faithfully, enter into such written Contract, then this obligation shall be void;
otherwise, to remain in full force and effect.
IT IS EXPRESSLY UNDERSTOOD AND AGREED that if said Principal should withdraw its
Bid any time after such Bid is opened and before official rejection of such Bid or, if successful in securing the award thereof, said Principal should fail to enter into the Contract and furnish satisfactory Performance Bond and Payment Bond, the Obligee, in either of such events, shall be entitled and is hereby given the right to collect the full amount of this Bid Bond as liquidated damages.
COMPLETE & UPLOAD TO EUNA PROCUREMENT
OR SUBMIT VIA HARD COPY
PROVIDED, further that if any legal action be filed upon this Bond, venue shall lie in Bell
County, Texas.
IN WITNESS WHEREOF, the said Principal and Surety do sign and seal this instrument, this day of , 20_____.
Principal/Contractor Surety
By
Address
By ________
Address ________
NOTE: Attach Power of Attorney
File details come from the government source that posted it. Updated .