4-26-054-R - Contract Bond Form.pdf
PDF 281 KB Posted
- Solicitation number
- 26-054-R
- Issued by
- Winnebago County, Wisconsin
About this file
This is a Contract Bond Form (Performance and Payment) required by Walworth County, Wisconsin for the Department of Public Works Garage Door Replacement project. The bond must be executed after contract award and requires a penalty equal to 100% of the contract amount. The form establishes a binding agreement between the Principal (contractor), Surety (bonding company), and Walworth County as Obligee, with the bond made payable to Walworth County, 100 W. Walworth St., Elkhorn, WI 53121. The underlying project involves the demolition of one oversized salt dome garage door system and the furnishing and installation of a replacement rolling door, operator, track, and associated components.
The bond obligates the Principal to fully and faithfully perform all contract undertakings, indemnify the County from costs and damages resulting from performance failures, and ensure full payment for all labor, materials, and work performed by the contractor and any subcontractors or material suppliers. The bond remains in full force regardless of any changes, extensions of time, alterations, or additions to the contract terms, work, or specifications, with notice of such modifications waived. The form requires execution by authorized representatives of both the Principal and Surety, including signatures, corporate seals, and countersignature of the resident agent if applicable.
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Text version
SECTION 00 61 13
CONTRACT BOND
(PERFORMANCE AND PAYMENT)
Note: This form of bond must be executed after the award of the contract. Penalty of this bond must be 100% of the Contract Amount.
KNOW ALL MEN BY THESE PRESENTS:
That, as Principal, hereinafter called Principal, And, as Surety, hereinafter called Surety, are held and firmly bound unto Walworth County, 100 W. Walworth St., Elkhorn, WI, 53121, as Obligee, hereinafter called the County, for the use and benefit of claimants, in the amount of:
Dollars, ($ ) for the payment whereof Principal and Surety bind themselves, and their heirs, administrators, executors, successors and assigns, jointly and severally, firmly by these presents.
WHEREAS, the Principal has entered into a certain written contract with the County, dated
The day of , 20 To construct and complete
(full name or description of project)
Which contract is by reference made a part hereof and is hereinafter referred to as the Contract.
NOW THEREFORE, THE CONDITION OF THIS OBLIGATION IS SUCH, that if the Principal shall fully and faithfully perform all undertakings and obligations under said contract, and shall fully indemnify and hold harmless the County from all costs and damage whatsoever which it may suffer by reason of any failure on the part of the Principal to do so, and shall fully reimburse and repay the County for any and all outlay and expense which it may incur in making good any such default, and shall fully pay for all of the labor, material and work used by the Principal and any immediate or remote sub-contractor, or furnisher of material under him in the performance of said contract, in lawful money of the United States, as the same shall become due, then this obligation or bond shall be null and void, otherwise to remain in full force and effect.
AND for value received, it is hereby stipulated and agreed that no change, extension of time, alteration or addition to the terms of the contract of to the work to be performed thereunder or to the specifications accompanying the same shall in any wise affect the obligation under this bond, and notice is hereby waived of any such change, extension of time, alteration or addition to the terms of the contract or to the work or to the specifications.
00 61 13 - 1 26-054-R Department of Public Works Garage Door Replacement
00 61 13 - 2
26-054-R Department of Public Works Garage Door Replacement
IN WITNESS WHEREOF the Principal has hereunto affixed its signature, and Surety has hereunto caused to be affixed its corporate signature and seal, by its duly authorized officers, on this day of
, 20 . Executed in counterparts.
WITNESS:
(name of Principal) (name of Surety)
(authorized signature) (signature of Attorney-in-fact)
(name of signatory) (name of Attorney-in-fact)
(title of signatory) (countersignature of resident Agent If not same as Attorney-in-fact)
END OF SECTION
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