7-BID BOND - PROSPECT POOL.pdf
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- Attached to
- Altoona Prospect Pool Swimming Pool Renovations
- Solicitation number
- Not on record
- Issued by
- Blair County, Allentown City, Pennsylvania
About this file
This is a Bid Bond template document for the City of Altoona, Pennsylvania, specifically designed for the Altoona Prospect Pool Swimming Pool Renovations project. The bid bond serves as a financial guarantee that a bidder will execute a formal contract if their bid is accepted. Bidders must submit either an original certified check, official check, cashier's check, or bid bond drawn to the order of the City of Altoona equal to 10 percent of their total bid amount. The bid bond must remain valid for 60 days from the bid opening date of May 5, 2026, at 10:00 A.M. local time. An on-site pre-bidder's conference will be held at Prospect Pool, 1201 2nd Avenue, Altoona, Pennsylvania on Tuesday, April 14, 2026, beginning at 1:00 P.M. local time. Bidders may not withdraw their bids within 60 days after the actual opening date.
The bid bond template contains blank fields for the principal (bidder) name, surety company name and contact information, and the penal sum amount. The bond conditions provide that if the bid is rejected or if the bid is accepted and the principal executes the contract, furnishes a performance and payment bond, and performs all obligations, the bid bond obligation becomes void. Otherwise, the surety's liability is limited to the penal amount stated in the bond. The surety waives notice of any extension of time for the principal to accept the bid. The City of Altoona reserves the right to reject any or all bids and waive informalities not material to the bid, with contract award determined by what is deemed in the best interest of the municipality. Work on the Prospect Pool project will be subject to prevailing wage rates as established by the Pennsylvania Department of Labor and Industry.
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Text version
BID BOND
KNOW ALL MEN BY THESE PRESENTS, that we, the undersigned, ______________________________________________________________________, as Principal; and
INSERT BIDDER'S NAME
______________________________________________________________________, as Surety
INSERT NAME OF SURETY
INSERT ADDRESS OF SURETY
TELEPHONE NUMBER (SURETY) FAX NUMBER (SURETY)
are hereby held and firmly bound unto the City of Altoona in the penal sum of _________________________________ Dollars and ______________________ Cents ($____________) for the payment of which, well and truly to be made, we hereby, jointly and severally, bind ourselves, our heirs, executors, administrators, successors, and assigns.
Signed this ______________ day of ____________________, 20 ______
The condition of the above obligation is such that whereas the Principal has submitted to the City of Altoona a certain bid attached hereto and made a part hereof, to enter into a contract, in writing, for the construction of the ALTOONA PROSPECT POOL SWIMMING POOL RENOVATIONS.
NOW, THEREFORE, (a) if said bid shall be rejected, or in the alternate, (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 full 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 obligation of said Surety and its bond shall be in no way impaired or affected by any extension of the time within which the Principal may accept such bid;
and said Surety does hereby waive notice of any such extension.
CONTINUED NEXT PAGE
BID BOND – CONTINUED
IN WITNESS WHEREOF, the Principal and 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 by these presents to be signed by their proper officers, the day and year first set forth above.
IN THE PRESENCE OF: (Individual Principals sign here)
_________________________ ________________________ (SEAL)
ATTEST: (Corporate Principals sign here)
_________________________ By: ________________________ (SEAL)
WITNESS: (Surety sign here)
_________________________ By: ________________________ (SEAL) as to Surety Attorney-in-Fact
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