Attachment C - Bid Bond.pdf
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- Solicitation number
- BPM058791
- Issued by
- Maryland
About this file
Bid Bond for Materials Laboratory Testing Services
This is a Bid Bond form issued by the State of Maryland for use in connection with a Multi-Step Invitation for Bids (MS-IFB) for Materials Laboratory Testing Services for the State Highway Administration (SHA), effective July 2024. The bid bond serves as a guarantee that a bidder will execute required contractual documents and provide necessary performance bonds upon acceptance of their bid. The bidder has ninety (90) days from bid acceptance to execute any further contractual documents and provide required bonds, or ten (10) days after receipt of forms if no other period is specified. The bond protects the State of Maryland by ensuring the successful bidder will perform the contracted work or pay the difference between their bid amount and the amount the State must pay another contractor to complete the work, not to exceed the bond penalty.
The bid bond form accommodates individual, partnership, or corporate principals and requires execution by a surety, which must be a corporation organized under state law. The surety's obligation remains valid even if the State extends the bid acceptance period by up to ninety (90) calendar days beyond the original deadline, with notice to the surety being waived for extensions within this timeframe. The form requires attestation by a corporate secretary and president, surety authorization through an attorney-in-fact, and approval as to form and legal sufficiency by an Assistant Attorney General. No specific pricing, set-asides, or funding information is detailed in this bond template document.
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Attachment C. Bid Bond effective date: July 2024
Attachment C. Bid Bond
Bond No. __________________
We, _______________________________ as Principal, hereinafter called the Principal, and ____________________________, a corporation duly organized under the laws of the State of __________________, as Surety, hereinafter called the Surety, are held and firmly bound unto the State of Maryland, hereinafter called "State", for the sum of _______________________________________ for the payment of which sum, the Principal and the Surety bind ourselves, our heirs, executors, administrators, successors and assigns, jointly and severally, firmly by these presents.
WHEREAS, the Principal has submitted a bid for (Identify project by number and brief description):
NOW, THEREFORE, if the Principal, upon acceptance by the State of its bid identified above, within the period specified therein for acceptance (ninety (90) days, if no period is specified), shall execute such further contractual documents, if any, and give such bond(s) as may be 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, or in the event of failure so to execute such further contractual documents and give such bonds, if the Principal shall pay the State the difference not to exceed the penalty hereof between the amount specified in Principal's bid and such larger amount for which the State may in good faith contract with another party to perform the work covered by said bid, then the above obligation shall be void and of no effect.
The Surety executing this instrument hereby agrees that its obligation shall not be impaired by any extension(s) of the time for acceptance of the bid that the Principal may grant to the State, notice of which extension(s) to the Surety being hereby waived; provided that such waiver of notice shall apply only with respect to extensions aggregating not more than ninety (90) calendar days in addition to the period originally allowed for acceptance of the bid.
Individual Principal
In Presence of:
Witness
(Name) as to (SEAL)
Partnership Principal
In Presence of:
Witness
(Name) as to (SEAL) Partner as to (SEAL) Partner as to (SEAL) Partner
Corporate Principal
Attachment C. Bid Bond effective date: July 2024
Attest: (Name of Corporation) AFFIX
SEAL
By:
Secretary President
Attest: (Surety)
By:
Attorney-in-fact AFFIX
SEAL
Bonding Agent’s Name
Agent’s Address:
Approved as to form and legal sufficiency this ____ day of _____ 20___
Assistant Attorney General
File details come from the government source that posted it. Updated .