Attachment_2_Sample_Performance_Bond.pdf
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- Attached to
- Inmate Clinical Services - UPDATED
- Solicitation number
- RFP 32901-31378-24
- Issued by
- Bradley County, Tennessee
About this file
This is a Sample Performance Bond template for use with contracts issued by the State of Tennessee Department of General Services Central Procurement Office. The document outlines the requirements and format for performance bonds that contractors must submit within fourteen calendar days of the state's request. The bond requires both a Principal (contractor) and Surety to be jointly and severally bound to the State of Tennessee, with the Surety guaranteeing the contractor's performance of all contract obligations including scope of services and deliverables.
The bond form includes sections for notarized signatures from both the contractor and surety company representatives, with specific references to Tennessee Code Ann. § 12-3-502 regarding time provisions. The Surety must acknowledge reading and satisfying all qualifications and obligations imposed by the contract. While no specific dollar amount is pre-filled in the template, it requires the penal sum to be stated in both written and numerical form, and the Surety waives notice of any changes, extensions, alterations or additions to the contract terms or scope.
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Text version
ATTACHMENT TWO
Sample Performance Bond
BOND NO. #
PERFORMANCE BOND
KNOW ALL MEN BY THESE PRESENTS: that We, Contractor name Contractor address Contractor telephone
(hereinaf ter called the “Principal”), whose principal business address and telephone number is as stated above; and
Surety name Surety address Surety telephone
(hereinaf ter called the “Surety”), whose principal address and telephone number is as stated above, a surety insurer chartered and existing under the laws of the State of state name and authorized to do business in the State of Tennessee;
are held and f irmly bound unto the State of Tennessee Department of General Services Central Procurement Office (“State”), whose principal address is 312 Rosa L. Parks Avenue, 3rd Floor, Nashville, TN 37243, and whose principal telephone number is 615-741-1035 in the penal sum of written amount ($ number) for payment of which we bond ourselves, our heirs, our personal representatives, our successors and our assignees, jointly and severally.
WHEREAS, Principal has entered into a contract with State for solicitation name (Solicitation No.
#32901-31328) (the “Contract”) in accordance with the scope of services and deliverables (the “Scope”) set forth in Section reference of the Contract.
THE CONDITION OF THIS BOND is that if Principal:
1. Performs the Contract at the times and in the manner prescribed in the Contract; and
2. Pays State any and all losses, damages, costs and attorneys’ fees, including appellate proceedings, that State sustains because of any default by Principal under the Contract, including, but not limited to, all delay damages, whether liquidated or actual, incurred by State;
and
3. Performs, to the satisfaction of State the Scope under the Contract for the time specif ied in the
Contract;
then this bond is void; otherwise it remains in full force.
The Surety, for value received, hereby stipulates and agrees that no changes, extensions of time, alterations or additions to the terms of the Contract or other work to be performed hereunder, or the specifications referred to in the Contract shall in anyway affect its obligation under this bond. The Surety waives notice of any such changes, extensions of time, alterations or additions to the terms of the Contract or to the Scope.
It is expressly understood the time provision under Tenn. Code Ann. § 12-3-502 shall apply to this bond.
Bond must be received within fourteen (14) calendar days of receipt of request by the State or a Delegated State Agency.
By execution of this bond, the Surety acknowledges that it has read the Surety qualif ications and obligations imposed by the Contract and hereby satisf ies those conditions.
IN WITNESS WHEREOF, the above bounded parties have executed this instrument this day of , 20 , the name of each party being affixed and these presents duly signed by its undersigned representative, pursuant to authority of its governing body.
Signed, sealed and delivered In the presence of : PRINCIPAL:
Contractor name
By:
(Contractor’s authorized signatory)
(Printed name and title)
STATE OF TENNESSEE
COUNTY OF __________________
On this ___________ day of ____________, 20 _________, before me personally appeared _____________________________________________, to me known to be the person (or persons) described in and who executed the foregoing instrument, and acknowledged that such person (or persons) executed the same as such person (or person's) f ree act and deed.
Notary Public Printed Name: ______________________ Commission Expires:
Signed, sealed and delivered In the presence of : SURETY:
Surety name
By:
(Surety’s authorized signatory)
(Printed name and title)
STATE OF TENNESSEE
COUNTY OF __________________
On this ___________ day of ____________, 20 _________, before me personally appeared _____________________________________________, to me known to be the person (or persons) described in and who executed the foregoing instrument, and acknowledged that such person (or persons) executed the same as such person (or person's) f ree act and deed.
Notary Public Printed Name: ______________________ Commission Expires:
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