7-07 BID BOND TEMPLATE.pdf
PDF 116 KB Posted
- Attached to
- IFB - LIZARD WASH PARK CONSTRUCTION
- Solicitation number
- 26-280
- Issued by
- Washington County, Utah
About this file
This is a Bid Bond Template document issued by the City of St. George for the Lizard Wash Park construction project (Inquiry No. 26-280). The project encompasses comprehensive park construction at 5955 S Painted Ridge Parkway, including removals, earthwork, site grading, drainage, utilities, concrete flatwork, asphalt trails, raised planters, restrooms, pavilions, pickleball courts, sand volleyball court, parking lot, pedestrian bridge, landscape, irrigation, and related work items. All bids submitted must be accompanied by a bid bond naming the City of St. George as obligee. The template establishes the standard format and conditions under which bidders and their sureties bind themselves to the city, with the obligation becoming void if the bid is rejected or if the successful bidder executes the contract, furnishes a performance bond, and performs all obligations as required.
The bid bond must equal 5 percent of the bid amount and must be issued by a surety company licensed and authorized to conduct business in the State of Utah, appearing on the U.S. Treasury Department's most current list (Circular 570 as amended). The template specifies that surety companies executing bonds must meet these regulatory requirements. Additionally, a 100 percent performance bond covering labor and materials will be required of the successful contractor upon award. The City of St. George reserves the right to reject any or all submissions or waive any formality or technicality in the proposal process as deemed in the city's interest. The bond template was approved by Legal in May 2024.
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Text version
BID BOND
Project Name: Lizard Wash Park Inquiry No.: 26-280
KNOW ALL MEN BY THESE PRESENTS, that we, the undersigned, as
Principal, and as Surety, are hereby held and firmly bound unto The City of St. George in the penal sum of for the payment of which, well and truly to be made, we hereby jointly and severally bind ourselves, successors and assigns.
Signed, this day of , 20 . The Condition of the above obligation is such that whereas the Principal has submitted to a certain BID, attached hereto and hereby made a part hereof to enter into a contract in writing, for the construction of the above-named project.
NOW, THEREFORE,
(a) If said BID shall be rejected, or
(b) If said BID shall be accepted and the Principal shall execute and deliver a contract in the Form of
Contract attached hereto (properly completed in accordance with said BID) and shall furnish a
BOND for his faithful performance of said contract, and for the payment of all persons performing labor or furnishing materials in connection therewith, and shall in all other respects perform the agreement created by the acceptance of said BID, THEN this obligation shall be void, otherwise the same shall remain in force and effect; it being expressly understood and agreed that the liability of the Surety for any and all claims hereunder shall, in no event, exceed the penal amount of this obligation as herein stated.
The Surety, for value received, hereby stipulates and agrees that the obligations of said Surety and its
BOND shall be in no way impaired or affected by any extension of the time within which the CITY may accept such BID; and said Surety does hereby waive notice of any such extension.
Form approved by Legal May, 2024 Page 18 of 54
IN WITNESS WHEREOF, the Principal and the Surety have hereunto set their hands and seals, and such of them as are corporations have caused their corporate seals to be hereto affixed and these presents to be signed by their proper officers, the day and year first set forth above.
Principal
Surety
By:
IMPORTANT - Surety companies executing BONDS must appear on the Treasury Department's most current list (Circular 570 as amended) and be authorized to transact business in the state where the project is located.
| Principal: |
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| Bond Company: |
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| George: |
| Name of Bidder: |
| 5% of Bid: |
| Project Name: |
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File details come from the government source that posted it. Updated .