5-Surety Form.pdf
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- Attached to
- West Broad YMCA Pool Renovation (REBID)
- Solicitation number
- 26-0017-2
- Issued by
- Chatham County, Georgia
About this file
This is a Surety Requirements document issued by Chatham County, Georgia, outlining bonding and financial security requirements for contractors bidding on the West Broad YMCA Pool Renovation project. The project involves constructing a new pool deck, pool, and associated utilities at the West Broad YMCA located at 1110 May Street, Savannah, Georgia. The scope includes pole lights, minimal landscaping, and a prefabricated pool equipment building, with utilities stubbed for future restroom construction. A gas pool heater is offered as an add-alternate line item. Bidders must submit bids through Chatham County's Procurement Portal, with all technical questions directed to Ms. Sabrina Tippett, Procurement Specialist. Direct contact with County departments is prohibited.
Contractors must provide a bid bond, certified check, or money order equal to 5% of the bid price, payable to the Chatham County Finance Department, submitted prior to bid submission. Upon contract award, contractors must post a payment and performance bond equal to 100% of the bid price, due before contract execution, guaranteeing delivery of goods meeting specifications, quality service performance, and timely payment to subcontractors. All bonds must be executed by a surety authorized to conduct business in Georgia and approved by Chatham County. Performance bonds are forfeited if the contractor fails to execute the contract, with forfeiture calculated as either the difference between the contractor's bid and the next lowest responsible bid or the difference between the bid and the lowest responsible bid resulting from rebidding. Bid bonds are forfeited if the contractor fails to enter into the contract for the stated bid amount.
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Text version
CHATHAM COUNTY, GEORGIA
SURETY REQUIREMENTS
NOTE TO CONTRACTOR: BID BOND ALONG WITH POWER OF
ATTORNEY MUST BE UPLOADED WITH YOUR BID DOCUMENTS.
USE OF SURETY’S STANDARD BID BOND FORM IS ACCEPTABLE. AS
LONG AS IT COMPLIES TO THE FOLLOWING:
A. Such bidder shall post a bid bond, certified check or money order made payable to the Chatham County Finance Department in the amount of 5% of the bid price. Certified Check must be delivered to the Purchasing and
Contracting Office prior to submitting a bid.
B. Contractor(s) shall post a payment/performance bond, certified check or money order made payable to the Chatham County Finance Department in the amount of 100% of the bid price if awarded the purchase. Such bond(s) are due prior to contract execution as a guarantee that goods meet specifications and will be delivered per contract. Such bonds will also guarantee quality performance of services and timely payment of invoices to any subcontractors.
C. Whenever a bond is provided, it shall be executed by a surety authorized to do business in the State of Georgia and approved by Chatham County.
D. Bidder acknowledges Chatham County’s right to require a Performance and
Payment Bond of a specific kind and origin. Performance Bond means a bond with good and sufficient surety or sprites for the faithful performance of the contract and to indemnify the governmental entity for any damages occasioned by a failure to perform the same within the prescribed time. Such bond shall be payable to, in favor of, and for the protection of the governmental entity for which the work is to be done. Payment Bond means a bond with good and sufficient surety or sureties payable to the governmental entity for which the work is to be done 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 public works construction contract. Performance Bond shall be forfeited if he/she fails to execute and fulfill the terms of the contract entered. The amount of forfeiture shall be: 1. The difference between his/her bid and the next lowest, responsible bid that has not expired or been withdrawn, or; 2. The difference between his/her bid and the amount of the lowest, responsible bid received as a result of rebidding, including all costs related to rebidding.
E. Forfeit the amount of the Bid Bond if he/she fails to enter into a contract with
Chatham County to do and/or furnish everything necessary to provide service and/or accomplish the work stated and/or specified in this bid proposal for the bid amount.
COMPANY DATE
SIGNATURE/TITLE
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