7-06 BIDBOND.pdf
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- Attached to
- 26000448R FY 2026 Citywide Concrete Program
- Solicitation number
- 26000448R
- Issued by
- Mason County, Texas
About this file
This is a Bid Bond form issued by the City of Midland, Texas, a home rule municipal corporation in Midland County, for use in connection with the FY 2026 Citywide Concrete Program contract opportunity. The bid bond document establishes the formal requirement for bidders to provide surety backing for their bids submitted to the City of Midland. The form is designed to be completed with the principal (bidder) and surety information, the obligee (City of Midland), and the bond amount, which corresponds to the bid amount for the concrete program project that involves labor, equipment, materials, supervision, and concrete necessary to complete various citywide projects in accordance with general notes and city or state specifications.
The bid bond creates a binding obligation whereby the principal and surety are jointly and severally liable to the City of Midland for the full bond amount as liquidated damages if the principal withdraws its bid after opening and before official rejection, or if awarded the contract, fails to enter into the written contract and furnish satisfactory performance and payment bonds. The form requires signatures from both the principal and surety, along with addresses for each party, and must be approved as to form by the City Attorney. A Power of Attorney must be attached to the bid bond. Venue for any legal action arising from the bond is established in Midland County, Texas. The bid bond form was last revised on March 30, 2011.
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Text version
FORM\BIDBOND.FRM REVISED: March 30, 2011
BID BOND
THE STATE OF TEXAS §
SURETY NO. ______________________
COUNTY OF MIDLAND §
KNOW ALL MEN BY THESE PRESENTS, THAT ___________________________________________
(hereinafter called the Principal), as Principal, and _______________________________________________
(hereinafter called the Surety), as Surety, are held and firmly bound unto the City of Midland, Texas a home rule municipal corporation of Midland County, Texas, (hereinafter called the Obligee), in the amount of _________________
_______________________________________________________________________________________ DOLLARS
($____________________), for the payment whereof the 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 or Proposal to enter into a certain written Contract with the obligee to_________________________________________________________________________________________
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 anytime after such Bid is opened and before official rejection to 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 such events, shall be entitled and is hereby given the right to collect the full amount of this Bid Bond as liquidated damages.
PROVIDED, further that if any legal action be filed upon this Bond venue shall lie in Midland County, Texas
IN WITNESS THEREOF, THE SAID PRINCIPAL AND SURETY do sign and seal this instrument, this
________________ day of ___________________, 20____.
Principal Surety
By ___________________________________ By ____________________________________
Address ______________________________ Address _______________________________
APPROVED AS TO FORM:
City Attorney
NOTE: ATTACH POWER OF ATTORNEY
File details come from the government source that posted it. Updated .