7-Reconstruction of Bridge 2904 Bid Proposal Guaranty Bond.pdf
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- Attached to
- Reconstruction of Bridge 2904
- Solicitation number
- Not on record
- Issued by
- Mercer County, Pennsylvania
About this file
This is a Bid Proposal Guaranty Bond document issued by Mercer County, Pennsylvania for the reconstruction of Bridge 2904. The bond serves as a financial guarantee that a bidder will execute the contract if their proposal is selected as the successful bid. Bidders must submit their proposals electronically via PennBid by 10:00 a.m. local time on April 30, 2026, with bids to be opened and publicly announced immediately following the submission deadline at the Mercer County Bridge Department located at 104 Mortensen Road, Greenville, Pennsylvania. Qualified contractors must demonstrate prequalification status and adequate work capacity to be considered for this bridge reconstruction project. The County Commissioners reserve the right to reject any or all submissions and to waive any informalities in the bidding process.
The bid proposal guaranty bond amount is set at ten percent (10%) of the Principal's bid amount and must be provided by all bidders. If a bidder's proposal is determined to be unsuccessful, the bond will be returned. If the bid is deemed successful and the bidder meets the Municipality's standards regarding financial responsibility, competency, experience, reputation, and quality of previous work, the bidder must execute the contract and provide required bonds and insurance certificates. In case of default by the Principal, the bond can be enforced through legal action against both the Principal and Surety jointly and severally, with provisions for attorney fees of ten percent (10%) added for collection. No specific budget range or funding source information is provided in this bond document.
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Text version
BID PROPOSAL
PROJECT GUARANTY BOND
KNOW ALL MEN BY THESE PRESENTS that the above-named Principal and Surety are held and firmly bound unto the Commonwealth of Pennsylvania, County of Mercer, hereinafter called the Municipality, in the sum of ten (10%) per centum of the Principal’s bid on the above Project, for the payment whereof the Principal and the Surety bind themselves, their heirs, executors, administrators, successors and assigns, jointly and severally, firmly by these presents.
NOW, THEREFORE, THE CONDITION OF THIS OBLIGATION IS SUCH THAT:
(1) if the Principal’s bid is determined by the Municipality to be the successful bid and the Principal shall qualify as the successful bidder by meeting the Municipality’s standards regarding financial responsibility, competency, experience, reputation and quality of previous work, and shall duly execute and deliver the contract prepared by the Municipality for the project, and provide the required bonds and insurance certificates, or
(2) if the Principal’s bid is determined by the Municipality to be an unsuccessful bid, and this bond returned to the Principal, then this obligation shall be void and of no effect;
otherwise to remain in full force and virtue; and, PROVIDE FURTHER, that in case of default by the Principal in any respect, action on this Bond may be begun forwith, and the Principal and the Surety, jointly and severally, do hereby authorize and empower any attorney of any Court of Record of Pennsylvania, or elsewhere to appear for and to enter judgement against them, jointly and severally, for the aforementioned sum, with or without defalcation, with costs of suit, release of errors, without stay of execution and with ten (10%) per centum attorney fees added for collection; and waiving inquisition on any real estate and exemption of any property whatsoever, authorizing condemnation of the same and immediate issuance of a writ of execution, and releasing and waiving relief from any and all appraisement, stay of execution, or exemption laws of any State, now in force or hereinafter to be passed.
COUNTY
L.R. SEC.
BID DATE
PRINCIPAL (NAME & MAILING ADDRESS) SURETY (NAME & ADDRESS)
Signed, sealed and delivered this __________ day of ______________________, 20______.
___________________________________(SEAL)
(Name of Principal)
ATTEST OR WITNESS:
Signature Title
BY _____________________________________
Signature Title
ATTEST OR WITNESS:
_______________________________ ___________________________________(SEAL)
(Name of Surety)
BY _____________________________________
Attorney-in-fact
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