Attachment_5_Bid_Bond.pdf
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- Attached to
- WILLOW RUN PARK RENOVATION & EXPANSION
- Solicitation number
- ITB-26-05-CW
- Issued by
- Volusia County, Florida
About this file
This is a Bid Bond document required by the City of Port Orange, Florida for the Willow Run Park Renovation & Expansion project. The bid bond serves as a financial guarantee that a contractor will execute a written contract within ten days of receiving prescribed contract forms and will provide performance and payment bonds as required. The principal contractor must not withdraw the bid within 120 days after the date of opening, and failure to comply with these conditions results in forfeiture of the bond amount to the City.
The bid bond requires a penal sum in an amount to be specified by the contractor and must be executed by both the contractor (principal) and a surety company authorized to conduct business in Florida. The surety company must provide its A.M. Best Number and NAIC Number and designate a local resident agent. The document must be notarized and properly executed with appropriate corporate seals and signatures depending on whether the contractor is a corporation, partnership, sole proprietorship, or limited liability company. If the contractor fails to enter into the required contract or withdraws the bid improperly, the City may recover the difference between the bid amount and the cost to procure the work from the bid bond. The completed bid bond must be submitted with the contractor's bid submittal package.
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Text version
BID BOND
BID BOND
Bond No.:
KNOW ALL MEN BY THESE PRESENTS that , as Contractor, duly authorized to conduct business in the State of Florida, whose principal place of business is located at , Tel.: , (hereinafter called “PRINCIPAL”), and , as SURETY, duly authorized to conduct business in the State of Florida, whose principal place of business is located at ______________________________________________, Tel:___________________________(hereinafter called “SURETY”), are held and firmly bound unto the City of Port Orange, Florida, as CITY, a Florida municipal corporation, whose address is City of Port Orange, 1000 City Center Circle, Port Orange, Florida 32129, Tel: (386) 506-5501, (hereinafter called “OBLIGEE” or CITY”, in the penal sum of__________________________________________dollars and (_______)/100 ($_________), lawful money of the United States, for the payment of which sum shall and truly be made, whereof PRINCIPAL and SURETY bind themselves, their heirs, executors, administrators, successors and assigns, jointly and severally, firmly by these presents.
THE CONDITION OF THIS OBLIGATION IS SUCH that, whereas the Principal has submitted the accompanying bid, dated________________________________, 20_______ , for:
Project Name/Bid No.:
Project Address:
Legal Description:
Description of Work:
NOW, THEREFORE,
A. If the Principal shall not withdraw said bid withing one hundred twenty (120) days after date of opening of the same, and shall within ten (10) days after the prescribed forms are presented to it for signature, enter into a written contract with the City in accordance with the bid as accepted, and give bonds with good and sufficient surety or sureties, as may be required, for the faithful performance and proper fulfillment of such contract, then the above obligations shall be void and of no effect, otherwise to remain in full force and virtue.
B. In the event of the withdrawal of said bid within the period specified, or the failure to enter into such contract and give such bonds withing the time specified, if the principal shall pay the City the difference between the amount specified in said bid and the amount for which the City may procure the required work and supplies. If the latter amount be in excess of the former, then the above obligations then the above obligations shall be void and of no effect, otherwise to remain in full force and virtue.
IN WITNESS WHEREOF, the above parties have executed this instrument under their several seals, this _____________day of___________________________, 20_____, the name and corporate seal of each corporate party being hereto affixed and these presents duly signed by its undersigned representative, pursuant to authority of its governing body.
Note: If the firm is a sole ownership or partnership including limited liability company, two (2) witnesses are required to attest the signature. If the firm is a corporation, then the corporate secretary shall attest and affix the corporate seal (Attach power of attorney to the original bid bond and financial statement of Surety Company).
PRINCIPAL: ATTEST:
Signature Signature
Corporate Officer & Title Corporate Secretary (Affix Corporate Seal)
WITTNESSESS:
ATTEST:
SURETY:
___________________________________________________________ Signature Attorney-in-Fact (signature) Name & Title Corporate Secretary (Affix Corporate Seal) Name of Local Resident Agent City, State, Zip Telephone:
A.M. Best No.:__________________________ NAIC No.:___________
STATE OF ___________________________________
COUNTY OF _________________________________
Before me this day personally appeared ______________________________________________________________ (affiant), who, being duly sworn, deposes and says that he/she is the Attorney-in-Fact for the
_______________________________________________________________(corporate surety) and that this person has been authorized by
_____________________________________________________________ (corporate surety) to execute the foregoing bond on behalf of the
Contractor named therein in favor of the City of Port Orange, Florida.
Signature of Affiant
The foregoing instrument was acknowledged before me by means of ☐physical presence or ☐online notarization, this _________ day of _______________________, 2026, by____________________________________________________________ and who:
☐Is personally known to me; or ☐ has produced __________________ as identification.
___________________________________________________ Notary Public, State of ______________________________________ Printed, typed or stamped name, commission and expiration:
END OF BID BOND
This document must be completed and returned with your Submittal
File details come from the government source that posted it. Updated .