9-00 43 13 Bid Bond DAP.pdf
PDF 70 KB Posted
- Attached to
- PW-Alpha Ranch Parkway & Comancheria Way Offsite Water Line (City Project Number 106400)
- Solicitation number
- 26-0093
- Issued by
- Tarrant County, Texas
About this file
This is a Standard Construction Bid Bond Form for the City of Fort Worth, Texas, required for the PW-Alpha Ranch Parkway & Comancheria Way Offsite Water Line project (City Project Number 106400). The bid bond applies exclusively to publicly bid projects and is mandatory for developer-awarded projects. The related project involves approximately 8,531 linear feet of 16-inch water line installation by open cut and 4,456 linear feet of 30-inch water line installation by open cut. Bidders must submit this bonded proposal in accordance with the project specifications and bid terms as outlined in the solicitation documents.
The bid bond form establishes a contractual obligation between the principal (bidder), the surety (a corporation authorized to conduct surety business in Texas), and the City of Fort Worth as obligee. The bond becomes null and void upon the principal's successful execution of the contract in accordance with the proposal terms and satisfaction of all pre-execution requirements. Should the principal fail to execute the contract as proposed or fail to meet required conditions, the bond becomes the property of the City without recourse to either party, with compensation limited to the difference between the principal's total bid amount and the next selected bidder's total bid amount. The form requires signatures from both the principal and the surety's attorney-in-fact, with a power of attorney document and impressed surety seal required as attachments.
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Text version
00 43 13
DAP BID BOND FORM FOR PUBLICLY BID PROJECTS ONLY
CITY OF FORT WORTH
STANDARD CONSTRUCTION BID BOND FORM – DEVELOPER AWARDED PROJECTS 00 43 13_Bid Bond_DAP
Form Version April 2, 2014
SECTION 00 43 13
DAP - BID BOND
BY THESE PRESENTS:
That we, <Bidding Company Name> called the Principal, and <Surety Name Here> a corporation or firm duly authorized to transact surety business in the State of Texas, hereinafter called the Surety, are held and firmly bound unto the City, hereinafter called the Obligee, in the sum of <Spell Out Numbers
Here> and No/100 Dollars said Principal and the said Surety, bind ourselves, our heirs, executors, administrators, successors and assigns, jointly and severally, firm by these presents.
WHEREAS the Principal has submitted a proposal to perform work for the following project of the Obligee identified as:
<Project Name and Limits Here>
NOW, THEREFORE, if the Obligee shall award the Contract for the foregoing project to the
Principal, and the Principal shall satisfy all requirements and conditions required for the execution of the
Contract and shall enter into the Contract in writing with the Obligee in accordance with the terms of such proposal, then this bond shall be null and void. If the Principal fails to execute such Contract in accordance with the terms of such proposal or fails to satisfy all requirements and conditions required for the execution of the Contract in accordance with the proposal, this bond shall become the property of the
Obligee, without recourse of the Principal and/or Surety, not to exceed the penalty hereof, and shall be used to compensate Obligee for the difference between Principal’s Total Bid Amount and the next selected Bidder’s Total Bid Amount.
SIGNED this ________ day of __________________, 20___.
By: <Bidding Company Name Here>
(Signature and Title of Principal)
By: <Surety Name Here>
(Signature of Attorney-of-Fact)
*Attach Power of Attorney (Surety) for Attorney-in-Fact Impressed
Surety Seal
Only
END OF SECTION
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