8-03 - Exhibit B-3 Bid Bond Form - 2026 Residential Type II Slurry.pdf
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- Solicitation number
- 26-3442
- Issued by
- Deschutes County, Oregon
About this file
This is a Bid Bond Form for the City of Bend, Oregon, for the 2026 Residential Type II Slurry Project (Project No. ST26SL, Solicitation No. 26-3442). The project involves the application of Type II slurry seal to approximately 203,946.66 square yards or approximately 26.13 lane miles of residential streets. All starts and stops will be marked with white marking paint. The bid bond serves as security to ensure that the successful bidder will execute the contract according to the terms of their bid submission and provide the required performance and payment bonds.
The bid bond is set at 5 percent of the bid amount and must be provided by the contractor and surety to secure the City of Bend. If the awarded bidder fails to sign the contract, provide required performance and payment bonds, or pay the 5 percent penalty, the surety is obligated to pay the City the bond amount. Bidders may submit an alternate bid bond form provided it maintains the 5 percent bid price requirement, or they may submit cash security in the form of cash, certified check, or cashier's check in lieu of a surety bond. The bid bond obligations are released upon successful contract execution with required bonds or if the bidder is not awarded the contract.
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Text version
B-3 BID BOND FORM
BID BOND
This Bid Bond is issued by ______________________, as Contractor (“Principal”), and _______________________________________________ as surety (“Surety”) are bound to the City of Bend (City) in the amount of 5 percent of Bid amount to secure Principal’s execution of a Contract if City awards a contract to Principal based on Principal’s Bid.
If City awards Principal a contract for any portion of the 2026 Residential Type II Slurry, Project No. ST26SL, Solicitation No. 26-3442, Principal shall enter into the contract according to the terms of Principal’s Bid and provide performance and payment bonds. If Principal fails to do so, it shall pay City the amount stated above. If Principal does not enter into the contract secured by performance and payment bonds and does not pay the amount stated above, Surety shall pay to City the amount stated above. The obligations of Principal and Surety under this Bid Bond shall be released if Principal signs the required contract and provides the required performance and payment bonds or if the Principal is not awarded the Contract.
SIGNED, SEALED AND DATED THIS _______ DAY OF ___________, 20________.
Principal_______________________________
Surety_________________________________
(Bidders may use an alternate Bid bond form, so long as it provides for payment by a surety of 5 percent of the Bid price if the Bid is awarded and bidder fails to sign the contract, provide required bonds, or pay the 5 percent penalty.)
Bidders may submit cash security (cash or certified or cashier’s check) rather than a Bid bond.
File details come from the government source that posted it. Updated .