Attachment-C.-Bid-Bond_Corporation.pdf
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- Solicitation number
- BPM058189
- Issued by
- Baltimore County, Maryland
About this file
This is a Bid Bond form, effective July 2024, required by the State of Maryland for bidders submitting proposals on state and local contract opportunities. The bond serves as a guarantee that a bidder, upon acceptance of their bid by the State, will execute any required contractual documents and provide necessary performance bonds within the specified timeframe. The Principal (bidder) and Surety (bonding company) are jointly and severally bound to the State of Maryland for the penalty amount of the bond. Bidders have ninety (90) days from bid acceptance to execute further contractual documents and provide required bonds, or ten (10) days from receipt of forms if no other period is specified. The bond form accommodates individual principals, partnerships, and corporate entities, with designated signature blocks and attestation requirements for each structure. The Surety's obligation remains valid even if the State extends the bid acceptance period by up to ninety (90) additional calendar days, with notice to the Surety being waived for such extensions.
The bond's penalty is triggered if the Principal fails to execute required contractual documents or provide necessary bonds within the specified timeframe, or if the Principal defaults on the bid. In such cases, the State may contract with another party to perform the work and recover from the Surety the difference between the Principal's bid amount and the actual contract amount, up to the penalty limit stated in the bond. The bond form requires execution by authorized representatives, including corporate officers (President and Secretary) and the Surety's Attorney-in-Fact, with corporate seals affixed. The bond must be approved as to form and legal sufficiency by the State's Assistant Attorney General before submission with the bid.
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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
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