Attachment-C.-Bid-Bond Corporation.pdf
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- Solicitation number
- BPM058019
- Issued by
- Prince George's County, Maryland
About this file
This is a Bid Bond form effective July 2024 for the State of Maryland related to project VC-001-260-003, the Cheltenham Veterans Cemetery Replace Entrance and Exit Roadway. The project is located at 11301 Crain Highway, Cheltenham, Prince Georges County, Maryland, and involves furnishing all labor, materials, equipment, and services necessary for the completion of roadway work. The scope of work includes removing existing asphalt road surface by cutting and milling as required, then installing replacement asphalt roadway to existing grades at the cemetery entrance and exit. Bidders have ninety (90) days from bid acceptance to execute any required contractual documents and provide necessary bonds, with an additional ten (10) days allowed if no specific period is designated in the bid terms.
The Bid Bond specifies the financial penalty terms under which the Principal (bidder) and Surety (bonding company) are jointly and severally liable to the State of Maryland. If the Principal fails to execute required contracts or provide specified bonds within the designated timeframe, the State may recover from the bond the difference between the Principal's bid amount and any larger amount the State incurs contracting with another party to perform the work, up to the bond penalty amount. The form accommodates individual, partnership, or corporate principals and requires signatures from appropriate representatives, seals, and approval from the Assistant Attorney General. Any extensions to the bid acceptance period, up to ninety (90) calendar days beyond the original period, may be granted without impairment to the Surety's obligation.
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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):
VC-001-260-003 - Cheltenham Veterans Cemetery Replace Entrance and Exit Roadway
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
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