Bid_Bond-sf-24.rtf

SF-24 (1/90)

BID BOND

(See instructions on reverse)

DATE BOND EXECUTED (Must be same or later than date of contract)

FORM APPROVED

OMB NO.

9000-0045 Public reporting burden for this collection of information is estimated to average 25 minutes per response, including the time for reviewing instructions, searching existing data sources, gathering and maintaining the data needed, and completing and reviewing the collection of information. Send comments regarding this burden estimate or any other aspect of this collection of information, including suggestions for reducing this burden, to the FAR Secretariat (VRS), Office of Federal Acquisition Policy, GSA, Washington, DC 20405: and to the Office of Management and Budget, Paperwork Reduction Project (9000-0045), Washington, DC 20503 PRINCIPAL (Legal name and business address)

TYPE OF ORGANIZATION ("X" one)

[ ] INDIVIDUAL [ ] PARTNERSHIP

[ ] JOINT VENTURE [ ] CORPORATION

STATE OF INCORPORATION

SURETY(IES) (Name and business address)

PENAL SUM OF BOND

BID IDENTIFICATION

PERCENT OF

AMOUNT NOT TO EXCEED

BID DATE

INVITATION NO.

BID PRICE

MILLION(S)

THOUSAND(S)

HUNDRED(S)

CENTS

FOR (Construction, Supplies or Services)

OBLIGATION:

We, the Principal and Surety(ies), are firmly bound to the United States of America (hereinafter called the Government) in the above penal sum. For payment of the penal sum, we bind ourselves, our heirs, executors, administrators, and successors, jointly and severally. However, where the Sureties are corporations acting as co-sureties, we, the Sureties, bind ourselves in such sum "jointly and severally" as well as "severally" only for the purpose of allowing a joint action or actions against any or all of us. For all other purposes, each Surety binds itself, jointly and severally with the Principal, for the payment of the sum shown opposite the name of the Surety. If no limit of liability is indicated, the limit of liability is the full amount of the penal sum.

CONDITIONS:

The Principal has entered into the contract identified above.

THEREFORE:

The above obligation is void if the Principal - (a) upon acceptance by the Government of the bid identified above, within the period specified therein for acceptance (sixty (60) days if no period is specified), executes the further contractual documents and gives the bond(s) required by the terms of the bid as accepted within the time specified (ten (10) days if no period is specified) after receipt of the forms by the principal; or (b) in the event of failure to execute such further contractual documents and give such bonds, pays the Government for any cost of procuring the work which exceeds the amount of the bid.

Each Surety executing this instrument agrees that its obligation is not impaired by any extension(s) of the time for acceptance of the bid that the Principal may grant to the Government. Notice to the surety(ies) of extension(s) are waived. However, waiver of the notice applies only to extensions aggregating not more than sixty (60) calendar days in addition to the period originally allowed for acceptance of the bid.

WITNESS:

The Principal and Surety(ies) executed this bid bond and affixed their seals on the above date.

PRINCIPAL

Signature(s)

1.

(Seal) 2.

(Seal) 3.

(Seal)

Corporate Name(s) & Title(s) (typed) 1.

2.

3.

Seal

NSN 7540-01-152-8059

EXPIRATION DATE 9/30/95

24-106 STANDARD FORM 24 (Rev. 1-90) Previous edition not usable Prescribed by GSA - FAR (48 CFR) 53.228(a)

INDIVIDUAL SURETY(IES)

Signature(s)

1.

(Seal) 2.

(Seal) Name(s) (Typed)

CORPORATE SURETY(IES)

S U R Name & Address

STATE OF INC.

LIABILITY LIMIT

E

TY

Signature(s)

Seal

A Name(s) & Title(s)

S U R

Seal

B Name(s) & Title(s)

SU

R

Seal

C Name(s) & Title(s)

R

Seal

D Name(s) & Title(s)

R

Seal

E Name(s) & Title(s)

R

Seal

F Name(s) & Title(s)

R

Seal

G Name(s) & Title(s)

INSTRUCTIONS

(Standard Form 24)

1. This form is authorized for use when a bid guaranty is required. Any deviation from this form will require the written approval of the Administrator of General Services.

2. Insert the full legal name and business address of the Principal in the space designated "Principal" on the face of the form. An authorized person shall sign the bond. Any person signing in a representative capacity (e.g., an attorney-in-fact) must furnish evidence of authority if that representative is not a member of the firm, partnership, or joint venture, or an officer of the corporation involved.

3. The bond may express penal sum as a percentage of the bid price. In these cases, the bond may state a maximum dollar limitation (e.g., 20% of the bid price but the amount not to exceed dollars).

4. (a) Corporations executing the bond as sureties must appear on the Department of the Treasury's list of approved sureties and must act within the limitation listed therein. Where more than one corporate surety is involved, their names and addresses shall appear in the spaces (Surety A, Surety B, etc.) headed "CORPORATE SURETY(IES)." In the space designated "SURETY(IES)" on the face of the form, insert only the letter identification of the sureties.

(b) Where individual sureties are involved, a completed Affidavit of Individual Surety (Standard Form 28), for each individual surety, shall accompany the bond. The Government may require the surety to furnish additional substantiating information concerning its financial capability.

5. Corporations executing the bond shall affix their corporate seats, individuals shall execute the bond opposite the word "Corporate Seal"; and shall affix an adhesive seal if executed in Maine, New Hampshire, or any other jurisdiction requiring adhesive seals.

6. Type the name and title of each person signing this bond in the space provided.

7. In its application to negotiated contracts,t he terms "bid" and "bidder" shall include "proposal" and "offeror."