Attachment-C.-Bid-Bond_Corporation.pdf
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- Solicitation number
- BPM057754
- Issued by
- Capitol Heights Town, Maryland
About this file
This is a Bid Bond form for the State of Maryland related to solicitation E-500-261-003 for an IQC Upgrade Walk-In Refrigerator/Freezers project in Cambridge, Maryland. The bid bond, effective July 2024, serves as a financial guarantee that the bidder will execute a contract if their bid is accepted by the State. The bond establishes a binding obligation between the Principal (bidder), the Surety (bonding company), and the State of Maryland. The Principal must accept the bid within ninety (90) days if no alternative period is specified, and must execute all required contractual documents and provide any necessary bonds within ten (10) days of receiving the forms, or in the event of failure to do so, must pay the State the difference between their bid amount and any higher amount the State incurs to complete the work, not to exceed the bond penalty amount.
The solicitation is restricted to Small Business Enterprises that have been approved for the Master Contractors Central Region contract. The bid bond form accommodates individual, partnership, or corporate principals and requires attestation and seals as appropriate. The Surety's obligation is not impaired by extensions of the bid acceptance period up to an aggregate of ninety (90) additional calendar days beyond the original period, with notice to the Surety waived for such extensions. The bond document requires approval as to form and legal sufficiency by an Assistant Attorney General prior to execution.
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Text version
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):
E-500-261-003 IQC UPGRADE WALK-IN REFRIGERATOR/FREEZERS.
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 .