4-25-16_Gre853019D_DocumentEE_Bid_Bond (UPLOAD).pdf
PDF 229 KB Posted
- Attached to
- Gre853019D 25-16
- Solicitation number
- 009_RFB_WRBWL_CY25-16
- Issued by
- Floyd County, Iowa
About this file
This document is a Proposal Guarantee (Bid Bond) for the Nutrient Reduction Wetland Project issued by the Iowa Department of Agriculture and Land Stewardship, Division of Soil Conservation and Water Quality. The project is located in Section 19, Township 85 North, Range 30 West, Greene County, Iowa, with the specific Project ID of Gre853019D and Bid No. 25-16. The document serves as a formal commitment by a principal (bidder) and surety to the state, outlining the conditions under which the bid will be submitted and potentially accepted.
The bid bond specifies that if the proposal is accepted, the principal must enter into a contract within 14 days of award and provide a performance bond. The penal sum of the bond will be forfeited to the Division if the principal fails to comply with these terms. The document is a standard legal form that provides financial protection for the state by ensuring the bidder will follow through on their proposal and contract obligations, with the surety agreeing to be financially responsible if the principal does not meet the required conditions.
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Text version
Gre853019D Nutrient Reduction Wetland Project DOCUMENT EE
Bid No. 25-16 PROPOSAL GUARANTEE (BID BOND)
EE-1
State of Iowa Iowa Department of Agriculture and Land Stewardship
DIVISION OF SOIL CONSERVATION AND WATER QUALITY
KNOW ALL PERSONS BY THESE PRESENTS:
That we, of as PRINCIPAL, and of as SURETY(S), are hereby held and firmly bound unto the State of Iowa in the penal sum of
____ /100 Dollars ($ ) for the payment, whereof, the said PRINCIPAL and SURETY(S) bind themselves, their heirs, executors, administrators, successors and assigns, jointly and severally, firmly by these presents.
The conditions of this obligation are such that whereas the PRINCIPAL is herewith submitting to the Iowa Department of
Agriculture and Land Stewardship, Division of Soil Conservation and Water Quality, hereinafter called the DIVISION its sealed contract for the following:
Nutrient Reduction Wetland Project
Section 19, Township 85 North, Range 30 West, Greene County, Iowa
Project ID: Gre853019D
Bid No. 25-16
NOW THEREFORE,
the conditions of this obligation are such that, if said proposal is rejected by the DIVISION, or if said proposal is accepted by the DIVISION and the PRINCIPAL shall enter into a contract in the form specified by the DIVISION in accordance with the terms of the Proposal and Schedule of Prices (Document CC) and shall furnish a bond for the faithful performance of said contract in the form specified by the DIVISION, this obligation shall be null and void. Otherwise, it shall remain in full force and effect.
In the event that the said proposal is accepted by the DIVISION and the PRINCIPAL fails to enter into the contract as defined herein or fails to furnish the performance bond as noted above, within fourteen (14) days of the approval of the award, the
PRINCIPAL and SURETY(S) agree to forfeit to the DIVISION the penal sum herein mentioned, it being understood that the liability of the SURETY(S) shall in no event exceed the penal sum or this obligation.
IN WITNESS WHEREOF,
the above bounden parties have executed this instrument under their several seals this day of , 20____, the name and corporate seal of each party being hereto affixed and these presents duly signed by its undersigned representative pursuant to authority of its governing body.
PRINCIPAL SURETY
By By
Print Name:
If a partnership, all partners must sign.
END OF DOCUMENT EE
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