7-IFB 26-1-23301 Vol.3 (4) Bid Bond.pdf

This is an AIA Document A310 Bid Bond for the Madison County Mass Transit District, located in Pontoon Beach, IL 62040, for a Multi-Site Video Surveillance, Access Control, and Door Hardware Systems project (No. 26-1-23301). The bond is set at five percent of the total bid price and covers a project involving video surveillance, access control, and door hardware systems across multiple sites.

The bid bond document outlines the legal requirements for the contractor and surety, including their joint and several obligations to the owner. The bond ensures the contractor will enter into a contract with the owner if awarded, and provides financial protection for the owner in case the contractor fails to fulfill bid or contract requirements. The document specifies that the bond must be issued by a qualified surety company holding certificates of authority as an acceptable surety under the U.S. Treasury Department's "Surety Companies Doing Business with the United States" regulations, with a current list available through the Department of the Treasury's Listing of Approved Sureties (Department Circular 570).