6-07 Bid Bond - Required.pdf
PDF 199 KB Posted
- Attached to
- Friars Creek Regional Detention Pond
- Solicitation number
- Bid #95-01-26
- Issued by
- Bell County, Texas
About this file
This is a Bid Bond document required by the City of Temple, Texas for the Friars Creek Regional Detention Pond construction project located in Bell County. The bid bond serves as a financial guarantee that a submitted bidder will enter into the contract if their bid is selected. The project involves construction of a regional detention pond for the Friars Creek Watershed, including improvements to existing drainage structures, grading and excavation of a new detention pond, installation of an outfall structure, erosion control measures, and necessary utility relocations. The selected contractor must complete all work within 182 consecutive calendar days from the Notice to Proceed. Bidders are required to complete and upload the bond document to Bonfire or submit a hard copy with their bid submission.
The engineer's estimate of probable cost for this project is $2,882,475. The bid bond must be executed by both the principal (contractor) and surety, with the bond amount representing the bid amount itself. If the successful bidder withdraws its bid after opening and before official rejection, or if the bidder fails to enter into the contract and furnish satisfactory Performance and Payment Bonds upon award, the City of Temple is entitled to collect the full bid bond amount as liquidated damages. Venue for any legal action regarding the bond lies in Bell County, Texas. Bidders must attach a Power of Attorney with the executed bond document.
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Text version
COMPLETE & UPLOAD TO BONFIRE
OR SUBMIT VIA HARD COPY
BID BOND
THE STATE OF TEXAS § SURETY'S NO. ___________
COUNTY OF §
KNOW ALL MEN BY THESE PRESENTS, THAT
(hereinafter called the Principal), as Principal, and
(hereinafter called the Surety), as Surety, are bound unto the City of Temple, Texas, a home rule municipal corporation of Bell County, Texas (hereinafter called Obligee) in the amount
DOLLARS ($ ), for the payment whereof said Principal and Surety bind themselves, and their heirs, administrators, executors, successors, and assigns, jointly and severally, firmly by these presents.
WHEREAS, the Principal has submitted a Bid to enter into a certain written Contract with the
City of Temple for the construction of the following:
FRIARS CREEK REGIONAL DETENTION POND
NOW, THEREFORE, THE CONDITION OF THIS OBLIGATION IS SUCH, that if the said Principal shall faithfully, enter into such written Contract, then this obligation shall be void;
otherwise, to remain in full force and effect.
IT IS EXPRESSLY UNDERSTOOD AND AGREED that if said Principal should withdraw its
Bid any time after such Bid is opened and before official rejection of such Bid or, if successful in securing the award thereof, said Principal should fail to enter into the Contract and furnish satisfactory Performance Bond and Payment Bond, the Obligee, in either of such events, shall be entitled and is hereby given the right to collect the full amount of this Bid Bond as liquidated damages.
COMPLETE & UPLOAD TO BONFIRE
OR SUBMIT VIA HARD COPY
PROVIDED, further that if any legal action be filed upon this Bond, venue shall lie in Bell
County, Texas.
IN WITNESS WHEREOF, the said Principal and Surety do sign and seal this instrument, this day of , 20__.
Principal/Contractor Surety
By
Address
By ________
Address ________
NOTE: Attach Power of Attorney
File details come from the government source that posted it. Updated .