6-25-15_Mah751636C_DocEE_BidBond(Upload).pdf
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- Attached to
- Mah751636C 25-15
- Solicitation number
- 009_RFB_WRBWL_CY25-15
- Issued by
- Lyon County, Iowa
About this file
This document is a Proposal Guarantee (Bid Bond) issued by the Iowa Department of Agriculture and Land Stewardship, Division of Soil Conservation and Water Quality for the Nutrient Reduction Wetland Project. The project is located in Section 36, Township 75 North, Range 16 West, Mahaska County, Iowa, with the specific Project ID of Mah751636C and Bid No. 25-15. The bid bond serves as a financial guarantee that ensures the principal (bidder) will enter into a contract if awarded and provide a performance bond within 14 days of award approval.
The bid bond document does not specify specific pricing details or funding sources. It is a standard legal instrument that protects the state's interests by requiring the bidder to commit to the contract terms or forfeit a predetermined penal sum if they fail to do so. The document provides a template for the principal and surety to complete, including signature lines and space for the penal sum amount, which would be filled in with the specific financial guarantee for this particular project.
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Text version
Mah751636C Nutrient Reduction Wetland Project DOCUMENT EE
Bid No. 25-15 PROPOSAL GUARANTEE (BID BOND)
EE-1
State of Iowa Iowa Department of Agriculture and Land Stewardship
DIVISION OF SOIL CONSERVATION AND WATER QUALITY
KNOW ALL PERSONS BY THESE PRESENTS:
That we, of as PRINCIPAL, and of as SURETY(S), are hereby held and firmly bound unto the State of Iowa in the penal sum of
____ /100 Dollars ($ ) for the payment, whereof, the said PRINCIPAL and SURETY(S) bind themselves, their heirs, executors, administrators, successors and assigns, jointly and severally, firmly by these presents.
The conditions of this obligation are such that whereas the PRINCIPAL is herewith submitting to the Iowa Department of
Agriculture and Land Stewardship, Division of Soil Conservation and Water Quality, hereinafter called the DIVISION its sealed contract for the following:
Nutrient Reduction Wetland Project
Section 36, Township 75 North, Range 16 West, Mahaska County, Iowa
Project ID: Mah751636C
Bid No. 25-15
NOW THEREFORE,
the conditions of this obligation are such that, if said proposal is rejected by the DIVISION, or if said proposal is accepted by the DIVISION and the PRINCIPAL shall enter into a contract in the form specified by the DIVISION in accordance with the terms of the Proposal and Schedule of Prices (Document CC) and shall furnish a bond for the faithful performance of said contract in the form specified by the DIVISION, this obligation shall be null and void. Otherwise, it shall remain in full force and effect.
In the event that the said proposal is accepted by the DIVISION and the PRINCIPAL fails to enter into the contract as defined herein or fails to furnish the performance bond as noted above, within fourteen (14) days of the approval of the award, the
PRINCIPAL and SURETY(S) agree to forfeit to the DIVISION the penal sum herein mentioned, it being understood that the liability of the SURETY(S) shall in no event exceed the penal sum or this obligation.
IN WITNESS WHEREOF,
the above bounden parties have executed this instrument under their several seals this day of , 20____, the name and corporate seal of each party being hereto affixed and these presents duly signed by its undersigned representative pursuant to authority of its governing body.
PRINCIPAL SURETY
By By
Print Name:
If a partnership, all partners must sign.
END OF DOCUMENT EE
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