5-00 61 40 Bid Bond Template.pdf
PDF 50 KB Posted
- Attached to
- PUMP HOUSE NO. 1: PUMP 1-5 & 1-6 EVALUATION & REHABILITATION-FEMA-CONTRACT NO. C213 (REBID)
- Solicitation number
- BCUA-25-C213.1
- Issued by
- Bergen County, New Jersey
About this file
This document is a Conforming Bid Bond issued by the Bergen County Utilities Authority (BCUA), which serves as a legal instrument to guarantee a bidder's commitment to enter into a contract if their bid is accepted. The bid bond provides financial protection for the obligee by ensuring that if the principal (bidder) is awarded the contract, they will fulfill all contractual requirements, including executing the contract, providing performance bonds, paying for labor and materials, and meeting environmental maintenance requirements. The bond requires the principal and surety to be jointly and severally liable for the specified bond amount.
The bid bond includes provisions that allow for statutory compliance, with any conflicting provisions to be deleted and replaced with conforming legal requirements. The document is structured to be signed by the principal, surety, and witnesses, with spaces for dates, titles, and seals. While specific project details are not filled in, the bond is a standard template designed to protect the Bergen County Utilities Authority's interests during the bidding and contract award process by providing financial recourse if a bidder fails to follow through on their proposed bid and subsequent contractual obligations.
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Text version
BERGEN COUNTY U.A. Bid Bond
CONFORMING BID BOND Bergen County Utilities Authority
KNOW ALL MEN BY THESE PRESENTS, that we ________________________________________
_________________________________, Hereinafter called the Principal as Principal, and ____
__________________________________, a corporation duly organized under the law of the
State of ______________ and licensed or authorized to do business in New Jersey, hereinafter called the Surety, as Surety, are held and firmly bound unto _____________________________
___________________________ hereinafter called the Obligee, in the sum of ______________
__________________________ Dollars ($___________________), for the payment of which sum well and truly to be made, the said Principal and the said Surety, binds ourselves, our heirs, executors, administrators, successors and assigns, jointly and severally, firmly by these presents.
WHEREAS, The Principal has submitted a bid for ______________________________________
NOW, THEREFORE, if the oblige shall accept the Bid of the Principal and the Principal shall enter into a Contract with the Obligee in accordance with the terms of such bid and the Contract Documents; and give such bond or bonds as may be specified in the Contract Documents with good and sufficient surety for the faithful performance of such Contract, for the prompt payment of labor and material furnished in the prosecution thereof and for the environmental maintenance requirements thereof; and deliver evidence of insurance and such other documents as are required by the Contract Documents as conditions precedent to the Owner’s execution of the Contract, all within the times required in the Contract Documents, then this obligation shall be null and void, otherwise to remain in full force and effect.
BERGEN COUNTY U.A. Bid Bond
When this Bond has been furnished to comply with a statutory or other legal requirement in the location of the Project, any provision in this Bond conflicting with said statutory or legal requirement shall be deemed deleted herefrom and provisions conforming to such statutory or other legal requirement shall be deemed incorporated herein. When so furnished, the intent is that this Bond shall be construed as a statutory bond and not as a common law bond.
SIGNED AND SEALED this __________ day of _______________________, 20 _____.
In the presence of:
(Seal) PRINCIPAL
WITNESS TITLE
_________________________________________(Seal)
SURETY
___________________________ _________________________________________(Seal)
WITNESS TITLE
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