4-Bid Bond Form.pdf

CITY OF ALPHARETTA BID BOND FORM

This procurement is issued under the authority of the City of Alpharetta Procurement Policy and applicable law. The City has the authority to reject all bids or any bid that is non-responsive or not responsible, and to waive technicalities and informalities to award a contract that is in the best interest of the City.

In compliance with O.C.G.A. § 36-91-50

Bond Requirements

Bid Bond

A bid bond in the amount of 5% of bid total required. The bid surety may be in the form of a bid bond or cashier’s check. If a cashier’s check will be presented as bid surety, a copy of the check shall be posted online with the bidder’s response and the actual cashier’s check must be delivered to the Procurement Agent noted in the Specifications document at the noted address no later than the ITB close date and time.

By signing and submitting this bid to the City, BIDDER agrees that in case of failure on their part to execute said contract and performance and payment bonds, or provide satisfactory proof of carriage of the insurance required, within fourteen (14) calendar days after the award thereof, the Bid Bond or certified check accompanying their bid and the money payable thereon shall be forfeited to the CITY as liquidated damages; otherwise, the check or bid bond accompanying this proposal shall be returned to the BIDDER.

Performance and Payment Bonds

Prior to commencing the Work, the Contractor, as principal, and a surety company listed in the Federal Register and licensed to write surety insurance in the State of Georgia, as surety, shall give a Performance Bond in the amount of one hundred percent (100%) of the total price of the Contract and a Payment (Labor and Material) Bond, in the amount of one hundred percent (100%) of the total price of the Contract.

“Performance bond” means a bond with good and sufficient sureties or guarantees for the faithful performance of the Contract and to indemnify the City for any damages occasioned by a failure to perform same within the prescribed time. Such bond shall be payable to, in favor of, and for the protection of the City.

“Payment bond” means a bond with good and sufficient sureties or guarantees payable to the City and intended for the use and protection of all subcontractors and all persons supplying labor, materials, machinery, and equipment in the prosecution of the Work provided for in the Contract for the use of all persons doing work or furnishing skills, tools, machinery, or materials under or for the purpose of constructing the Project. The life of these bonds shall extend through the Final Completion date of the Project for an additional sixty (60) day maintenance period (where applicable) and a twelve-month warranty/guarantee period after Final Completion.

Required to be submitted with Bid

Bidders are required to have completed and to return the following Bid Bond form for 5% of bid total with each Bid. Bid bond must be submitted with bid prior to bid due date/time.

City of Alpharetta RFP 26-011, MID BROADWELL CULVERT & SIDEWALK CONSTRUCTION

Bid Bond

BID BOND

(Five Percent (5%) of Bid)

KNOW ALL MEN BY THESE PRESENTS, that we, the undersigned

________________________________________________________, as CONTRACTOR, and

________________________________________________________, as SURETY, a corporation duly organized under the laws of the State of ___________________________, are hereby held and firmly bound unto

CITY OF ALPHARETTA, GEORGIA

2 PARK PLAZA

ALPHARETTA, GA 30009 as CITY and hereafter called OBLIGEE, in the penal sum of

_________________________________________________Dollars ($________________ ), or _________Percent

(_________%) of the bid amount, whichever is less, for the payment of which sum well and truly to be made, the said CONTRACTOR and the said SURETY, we hereby jointly and severally bind ourselves, our heirs, executors, administrators, successors, and assigns.

Signed this_____________ day of____________________________ , 20______ .

The condition of the above obligation is such that whereas the CONTRACTOR has submitted to the OBLIGEE a certain bid attached hereto and hereby made a part hereof to enter into a contract in writing for the construction of

MID BROADWELL CULVERT & SIDEWALK along Mid-Broadwell Road between Jennifer Oaks Drive and Bethany Road.

NOW, THEREFORE, if the OBLIGEE shall accept the bid of the CONTRACTOR and the CONTRACTOR shall enter into a Contract with the OBLIGEE in accordance with the terms of such bid and give such bonds or bond as may be specified in the bidding or Contract Documents with good and sufficient surety for the faithful performance of such Contract and for the prompt payment of labor and material furnished in the prosecution thereof, or in the event of the failure of the CONTRACTOR to enter such Contract and give such bond or bonds, if the CONTRACTOR shall pay to the OBLIGEE the difference not to exceed the penalty hereof between the amount specified in said bid and such larger amount for which the OBLIGEE may in good faith contract with another party to perform the Work covered by said bid, then this obligation shall be null and void, otherwise to remain in full force and effect.

Bid Bond # ____________________

City of Alpharetta RFP 26-011, MID BROADWELL CULVERT & SIDEWALK CONSTRUCTION

Bid Bond

BID BOND

The SURETY, for value received, hereby stipulates and agrees that the obligations of said SURETY and its bond shall be in no way impaired or affected by any extension of the time within which the OBLIGEE may accept such bids, and said SURETY does hereby waive notice of any such extension.

IN WITNESS WHEREOF, the CONTRACTOR and the SURETY corporate seals to be hereto affixed and these presents to be signed by their proper officers, the day and year first set forth above.

CONTRACTOR (SEAL)

By: ________________________________________________

SURETY (SEAL)

By: ________________________________________________

Georgia Representative

Surety Contact Information:

Address: ________________________________________________________

Phone: ________________________________________________________

Fax: ________________________________________________________

Email: ________________________________________________________

Surety companies executing bonds must appear on the Treasury Department’s most current list (Circular 570, as amended) and be authorized to conduct business in the State of Georgia.