4-07 Required Form - Bid Bond.pdf
PDF 147 KB Posted
- Attached to
- Parks Maintenance Storage Expansion
- Solicitation number
- CSP #41-01-26
- Issued by
- Bell County, Texas
About this file
This is a Bid Bond form required by the City of Temple, Texas for the Parks Maintenance Storage Expansion project. Proposers must submit a bid bond equal to 5% of their proposal amount as a condition of participation. The City of Temple encourages the use of its attached standardized bid bond form; however, the City reserves the right to reject bid bonds submitted on alternative forms if it determines they do not provide equivalent protection. The project involves construction of approximately 10,240 square yards of new paved parking areas, six parking structures, and a new storage facility located at the City's Parks & Recreation Administration Office at 1701 North General Bruce Drive, Temple, Texas. The engineer's estimate of probable cost is $3,833,604, with an anticipated completion period of 360 consecutive calendar days from Notice to Proceed, though the City and selected Contractor will work collaboratively to establish an acceptable contract term.
The bid bond serves as a performance guarantee requiring that the principal faithfully enter into the written contract upon proposal acceptance. If the principal withdraws its proposal after opening but before official rejection, or if awarded but fails to execute the contract and provide satisfactory Performance and Payment Bonds, the City is entitled to collect the full bid bond amount as liquidated damages. The bond must be executed by both the principal and surety, with the surety's power of attorney attached. Venue for any legal action on the bond shall lie in Bell County, Texas. The bid bond form indicates an execution date in 2026.
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Text version
COMPLETE & UPLOAD TO EUNA PROCUREMENT OR SUBMIT VIA HARD COPY
CSP #41-01-26 Parks Maintenance Storage Expansion
BID BOND
Proposers must submit a 5% bid bond with their proposal. Proposers are encouraged to use the City’s attached bid bond form for this purpose. The City may reject proposals which include bid bonds submitted on something other than the City’s form if it determines in its sole discretion that the bid bond does not provide the same level of protection as the City’s bid bond form provides.
BID BOND
THE STATE OF TEXAS § SURETY'S NO. ___________
COUNTY OF §
KNOW ALL MEN BY THESE PRESENTS, THAT
(hereinafter called the Principal), as Principal, and
(hereinafter called the Surety), as Surety, are bound unto the City of Temple, Texas, a home rule municipal corporation of Bell County, Texas (hereinafter called Obligee) in the amount
DOLLARS ($ ), 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 Proposal to enter into a certain written
Contract with the City of Temple for the construction of the following:
PARKS MAINTENANCE STORAGE EXPANSION
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 Proposal any time after such Proposal is opened and before official rejection of such Proposal 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.
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 , 2026.
Principal/Contractor Surety
By
Address
By ________
Address ________
NOTE: Attach Power of Attorney
File details come from the government source that posted it. Updated .