7-Attachment No.9 - Req-0004099.Payment-Performance Bonds.pdf

GLWA Procurement

Effective Date:

7/1/2024

Document #:

FSA_PRO_SUP_0008

Revision Date:

N/A

Revision#:

Document Title:

Payment/Performance Bond

Document Owner/Department:

Procurement Team

Payment/Performance Bonds

PAYMENT BOND

Requisition No.: 0004099 Contract Title: Pump Station 2 VFDs Upgrade at the WRRF

KNOW ALL PERSONS BY THESE PRESENTS: That "the Contractor," ____________________________________________, a corporation ___, individual ___, partnership ___, joint venture ___ of the State of _____________, qualified to do business in the State of Michigan, as Principal, and "the Surety," ___________________________________, of the state of _____________, licensed to do business as a surety in the State of Michigan, as Surety, are hereby held and firmly bound unto the Great Lakes Water Authority, "the GLWA," as Obligee, in the amount of ______________________________ Dollars ($______________), for the payment of which the Contractor and Surety hereby bind themselves, their respective heirs, successors, legal representatives and assigns, jointly and severally, firmly by these presents in compliance with Public Act 213 of 1963 as amended by Public Acts No. 351 of 1972 and No. 11 of 1982.

WHEREAS, the Contractor has entered into "the Contract" with the GLWA for _____________________________________________________________, "the Work," covered by the Contract Documents, which are incorporated into this Bond by this reference;

NOW, THEREFORE, THE CONDITION OF THIS OBLIGATION IS THAT, if the Contractor promptly pays all claimants supplying labor or materials to the Contractor or to the Contractor's Subcontractors in the prosecution of the Work, then THIS OBLIGATION SHALL BE NULL AND VOID, OTHERWISE THIS OBLIGATION SHALL REMAIN IN FULL FORCE AND EFFECT.

A. All rights and remedies on this Payment Bond shall be solely for the protection of all claimants supplying labor and materials to the Contractor or the Contractor's Subcontractors in the prosecution of the Work and shall be determined in accordance with Michigan Law. The Surety, for value received, stipulates and agrees that the obligations of the Surety and its Bond shall be in no way impaired or affected by any extension of the time within which the GLWA may accept the Bid, and the Surety does, by this agreement, waive notice of any such extension.

B. No change in Contract Price or Contract Time, "or equal" or substitution, addition, deletion or revision to the Contract

Documents shall diminish, enlarge, release or otherwise modify the Surety's obligations under this Bond. The Surety hereby waives notice of any such change in Contract Price or Contract Time, "or equal" or substitution addition, deletion, or revision.

C. The prevailing party in a suit on this Payment Bond is entitled to recover as part of that party's judgment reasonable attorneys' fees.

D. It is the intention of the Contractor, Surety and GLWA that the Surety shall be bound by all terms and conditions of the Contract Documents and this Payment Bond. However, this Payment Bond is executed pursuant to Public Act No. 213 of 1963 as amended by Public Act No. 351 of 1972 and Public Act No. 11 of 1982, and if any provision(s) of the Bond is/are illegal, invalid or unenforceable, all other provisions of the Bond shall nevertheless remain in full force and effect, and the GLWA shall be protected to the full extent provided by Public Act No. 213 of 1963 as amended by Public Act No.

351 of 1972 and Public Act No. 11 of 1982.

The Surety shall be licensed by the State Insurance Bureau, be acceptable to the GLWA and, unless otherwise authorized by the GLWA, have at least _______ Best's rating and a _______ or better financial size category per current A. M. Best Company ratings.

Address and Telephone of Surety Address and Telephone of Agent who is either a resident of, or whose principal office is maintained in, the State of Michigan.

Signed and sealed this ____ day of __________________, 20_____

THE CONTRACTOR (Print full name and Sign): By: _________________________________________________

Witness: ___________________________________________ Name and Title: __________________________________

THE SURETY (Print full name and Sign): Agent: _____________________________________________

Witness: ___________________________________________ Attorney-in-Fact: _________________________________

(Attach Certified Copy of Power of Attorney)

GLWA Procurement

Effective Date:

7/1/2024

Document #:

FSA_PRO_SUP_0008

Revision Date:

N/A

Revision#:

Document Title:

Payment/Performance Bond

Document Owner/Department:

Procurement Team

Payment/Performance Bonds

PERFORMANCE BOND

Requisition No.: 0004099 Contract Title: Pump Station 2 VFDs Upgrade at the WRRF

KNOW ALL PERSONS BY THESE PRESENTS: That "the Contractor," ____________________________________________, a corporation ___, individual ___, partnership ___, joint venture ___ of the State of _____________, qualified to do business in the State of Michigan, as Principal, and "the Surety," ___________________________________, of the state of _____________, licensed to do business as a surety in the State of Michigan, as Surety, are hereby held and firmly bound unto the Great Lakes Water Authority, "the GLWA," as Obligee, in the amount of ______________________________ Dollars ($______________), for the payment of which the Contractor and Surety hereby bind themselves, their respective heirs, successors, legal representatives and assigns, jointly and severally, firmly by these presents in compliance with Public Act 213 of 1963 as amended by Public Acts No. 351 of 1972 and No. 11 of 1982.

WHEREAS, the Contractor has entered into "the Contract" with the GLWA for _____________________________________________________________, "the Work," covered by the Contract Documents, which are incorporated into this Bond by this reference;

NOW, THEREFORE, THE CONDITION OF THIS OBLIGATION IS THAT, if the Contractor (a) faithfully performs and fulfills all the undertakings, covenants, terms, conditions, warranties and guarantees, indemnifications and agreements of the Contract Documents within the Contract Time (including any authorized changes, with or without notice to the Surety) and during the Correction Period, and (b) also performs and fulfills all the undertakings, covenants, terms, conditions, warranties and guarantees, indemnifications and agreements of any and all duly authorized modifications of the Contract Documents, notice of which modifications the Surety hereby expressly waives - then THIS OBLIGATION SHALL BE NULL AND VOID, OTHERWISE THIS

OBLIGATION SHALL REMAIN IN FULL FORCE AND EFFECT.

A. No change in Contract Price or Contract Time, "or equal" or substitution, addition, deletion or revision in the Contract

Documents shall diminish, enlarge, release or otherwise modify the Surety's obligations under this Bond. The Surety hereby waives notice of any such change in Contract Price or Contract Time, "or equal" substitution, addition, deletion, revision.

B. This Performance Bond shall be solely for the protection of the GLWA and its successors, legal representatives or assigns.

The prevailing party in a suit on this Bond is entitled to recover as part of that party's judgment reasonable attorneys' fees.

C. Article 14 of the General Conditions governing termination of the Contractor for convenience or cause and default of the Surety shall be binding on the Surety and Contractor, and the Surety's attention is expressly directed to that Article.

D. It is the intention of the Contractor, Surety and GLWA that the Surety shall be bound by all terms and conditions of the Contract Documents and this Performance Bond. However, this Performance Bond is executed pursuant to Public Act No.

213 of 1963 as amended by Public Act No. 351 of 1972 and Public Act No. 11 of 1982, and if any provision(s) of this Bond is/are illegal, invalid or unenforceable, all other provisions of this Performance Bond shall nevertheless remain in full force and effect, and the GLWA shall be protected to the full extent provided by with Public Act No. 213 of 1963 as amended by Public Act No. 351 of 1972 and Public Act No. 11 of 1982.

E. The Surety shall be licensed by the State Insurance Bureau, be acceptable to the GLWA and, unless otherwise authorized by the GLWA, have at least ______ Best's rating and a ________ or better financial size category per current A. M. Best Company ratings.

Address and Telephone of Surety Address and Telephone of Agent who is either a resident of, or whose principal office is maintained in, the State of Michigan.

Signed and sealed this ____ day of __________________, 20_____

THE CONTRACTOR (Print full name and Sign): By: _________________________________________________

Witness: ___________________________________________ Name and Title: __________________________________

THE SURETY (Print full name and Sign): Agent: _____________________________________________

Witness: ___________________________________________ Attorney-in-Fact: _________________________________ (Attach Certified Copy of Power of Attorney)