4-Conforming Consent of Surety Template.pdf
PDF 73 KB Posted
- Attached to
- Van Saun Zoo Railroad Improvements
- Solicitation number
- C-25-019
- Issued by
- Bergen County, New Jersey
About this file
This document is a Consent of Surety form template for a performance bond required for a contract bid. The form indicates that all bidders must submit this consent along with their bid, which certifies that if the contract is awarded to the specified contractor, the surety company will execute a bond for the full contract amount to ensure faithful performance of all contractor obligations. The template requires the surety company to fill in specific details such as their state of organization, licensing, and the specific contract for which they are providing the bond.
The form requires minimal financial commitment from the surety company, noting a nominal $1.00 consideration, and provides a standardized framework for guaranteeing the contractor's performance. The document is designed to provide financial protection for the contracting entity by ensuring that a qualified surety company will back the contractor's ability to complete the project as specified in the contract documents. While the specific project details are not included in this template, the form is a critical component of the bidding and contract award process, demonstrating the contractor's financial credibility and the surety company's willingness to stand behind the contractor's commitments.
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Text version
CONSENT OF SURETY
A performance bond will be required from the successful contractor on this project, and consequently, all bidders shall submit, with their bid, consent of surety in substantially the following form:
KNOW ALL MEN BY THESE PRESENTS, that for and in consideration of the sum of $1.00, lawful money of the United States of America, the receipt whereof is hereby acknowledged, paid the undersigned corporation, and for other valuable consideration, the _____________________________________________________ organized and existing under the laws of the State of _____________________ and licensed to do business in the State of _______________________ certifies and agrees, that if contract for ______________________________________________________ is awarded to; __________________________________________________ the undersigned Corporation will execute the bond or bonds as required of the contract documents and will become Surety in the full amount set forth in the contract documents for the faithful performance of all obligations of the Contractor.
Signed and sealed this _______________ day of _______________________, 20___
SUREETY COMPANY
Print Name and Title
Signature
| the: |
| organized and existing under the laws of the State of: |
| do business in the State of: |
| that if contract for: |
| is awarded to: |
| Signed and sealed this: |
| day of: |
| 20: |
| Print Name and Title: |
| Signature4_es_:signer:signature: |
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