5-Consent of Surety.pdf
PDF 180 KB Posted
- Attached to
- Bid 2026-08 - Zinc Orthophosphate
- Solicitation number
- 2026-08
- Issued by
- Monmouth County, New Jersey
About this file
This is a Consent of Surety document related to Bid 2026-08 for the Provision of Zinc Orthophosphate submitted to Marlboro Township Water Utility in New Jersey. The document serves as a formal agreement in which a surety company commits to guarantee the faithful performance of the contractor awarded this contract. The surety pledges to become bound as guarantor for an amount equal to one hundred percent (100%) of the contract price upon contract award.
The document establishes that if the contractor fails to execute the awarded contract, the surety agrees to pay the difference between the contractor's bid and any higher bid accepted by the owner for re-solicitation of the work, minus any certified check or bid bond already received. The surety's obligation is triggered upon demand without requiring proof of notice. The instrument requires execution by a duly authorized officer of the surety company with corporate seal affixed, and includes an acknowledgment section requiring notarization by a notary public confirming the authority of the signing officer and the authenticity of the corporate seal.
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Text version
CONSENT OF SURETY
In consideration of the premises and of One Dollar ($1.00) lawful money of the United States, it is in hand paid by the CONTRACTOR, the receipt whereof is hereby acknowledged, the undersigned surety consents and agrees that if the contract, for which the preceding estimate and proposal is made, be awarded to the person or persons submitting the same as contracted, it will become bound as surety and guarantor for its faithful performance, in an amount equal to one hundred percent (100%) of the contract price, and will execute it as party of the third party thereto when required to do so by the OWNER, and if said CONTRACTOR shall omit or refuse to execute such contract, if so awarded, it will pay without proof of notice and on demand to the OWNER any increase between the sum to which the said CONTRACTOR would have been entitled upon the completion of the contract and the sum which the said OWNER may be obligated to pay to another contractor to whom the contract may be afterwards awarded, the amount in such case to be determined by the bids plus the cost, if any, or re-advertising for bids for this work, less that amount of any certified check or bid bond payable and received.
In witness whereof, the said surety has caused these presents to be signed and attested by a duly authorized officer and its corporate seal to be hereto affixed this _________ day of ___________________, _______.
__________________________________________________, CONTRACTOR,
bound unto______________________________________________________________ for_________________________________________________________________________________________
(Name of Insurance Company)
______________________________ By___________________________________________ (Witness)
ACKNOWLEDGMENT OF CORPORATE SURETY
State of ______________________________________ County of ____________________________________ On this ________ day of ___________________, 20_____, before me appeared _________________________, to me personally known, who is being by me duly sworn, did say that he is the aforesaid officer or attorney-in-fact of the ________ ________________________________, a corporation; that the seal affixed to the foregoing instrument is the corporate seal of said corporation, and that said instrument was signed and sealed in behalf of said corporation by the aforesaid officer, by authority of its Board of Directors; and the aforesaid officer acknowledged said instrument to be the free act and deed of said corporation.
(Signature)
Notary Public, ________________________, ______________.
(County) (State)
Commission expires: _________________
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