5-00410 Bid Bond.pdf
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- Solicitation number
- IFB 3599-9
- Issued by
- Maricopa County, Arizona
About this file
This is a Bid Bond template document for Mesa Community College's Building 50 Roof Replacement project in Arizona. The bid bond serves as a guarantee that a bidder will enter into a contract if selected and will provide the required performance and payment bonds as specified in the contract documents. The project involves the removal and replacement of multiple roof sections with a new multi-ply SBS roofing system, including insulation, flashing upgrades, drainage improvements, coating application, and associated roofing and mechanical adjustments. Work explicitly excluded from this bid includes geotechnical reports, materials testing, hazardous materials testing and abatement, structured cabling systems, audio-visual systems, and building security systems, all of which will be procured through separate direct-to-owner contracts.
The bid bond establishes a penal sum equal to ten percent (10%) of the amount bid, binding both the principal (bidder) and surety jointly and severally to the obligee (Mesa Community College). If the bidder fails to execute the contract and provide the required performance and payment bonds upon acceptance of their bid, the college may recover damages up to the bond penalty amount, specifically the difference between the bidder's proposed amount and any higher amount the college must pay to secure another contractor to complete the work. The bond requires notarization and signatures from authorized representatives of both the bidding company and the surety company before submission.
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Text version
BID BOND 00410-1
SECTION 00410
BID BOND
(Sample)
KNOW ALL MEN BY THESE PRESENTS, that we, (Bidder's Name) of (Street Address) (City, State, Zip) hereinafter called the Principal, and (Surety's Name) a corporation organized and existing under the Laws of the State of, and authorized to transact business in the State of , as Surety, hereinafter called Surety, are held and firmly bound unto the hereinafter called Obligee, in the Penal sum (Owner) of ten percent (10%) of the amount bid, good and lawful money of the United States of America, for the payment of which the Principal and Surety bind themselves, their heirs, executors, administrators, successors and assigns, jointly and severally, firmly by these presents.
The Condition of this Obligation is such, that, WHEREAS the Principal had submitted a proposal to the Obligee on a contract for the construction of:
(Contract, Name and Number)
NOW THEREFORE, If the Obligee 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 give such bond or bonds as may be specified in the Bidding or Contract Documents with good and sufficient surety for the faithful performance of such construction for the prompt payment of labor and material furnished in the prosecution thereof, or in the event of the failure of the Principal to enter such Contract and give such bond or bonds, if the Principal 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.
IN WITNESS WHEREOF, we have hereunto set our signatures and seal this day of , 20 , all pursuant to due authorization.
Principal: Seal
By:
Surety: Seal
Bond No. By:
By Attorney-in-fact in accordance with the attached Power of Attorney
STATE OF )
(ss.
COUNTY OF )
BID BOND 00410-2
I, , a Notary Public in and for the State and County aforesaid, do hereby certify that and , whose names are signed to the foregoing bond, this day personally appeared before me in my State and County aforesaid and acknowledged the same.
Given under my hand seal this day of , 20__.
Notary Public (Seal) My commission expires:
END OF SECTION 00410
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