Attachment-C.-Bid Bond.pdf
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- Attached to
- VETERANS’ AND FRATERNAL ORGANIZATIONS INSTANT TICKET LOTTERY MACHINES AND CENTRAL SYSTEM
- Solicitation number
- BPM058027
- Issued by
- Maryland
About this file
This is a Bid Bond form template (Attachment C) issued by the State of Maryland for use in responding to the Veterans' and Fraternal Organizations Instant Ticket Lottery Machines and Central System contract opportunity. The bond document establishes a surety agreement between a principal bidder and a bonding company, guaranteeing the principal's commitment to execute a contract if their bid is accepted by the State. The bid bond specifies that if the State accepts a bidder's proposal, the principal must execute required contractual documents and provide any additional bonds within ten days of receiving the forms, or within ninety days if no specific period is designated. The bond remains valid for the standard ninety-day acceptance period unless extensions are granted, with notice waiver provisions allowing extensions up to an additional ninety calendar days.
The bid bond serves as a financial guarantee protecting the State against loss if a bidder fails to execute the contract or provide required bonding after bid acceptance. The surety agrees that its obligation will not be impaired by extensions of the acceptance period granted to the principal, with the Surety's consent to such extensions implied upon execution of the bond. The document accommodates individual, partnership, and corporate principals, requiring appropriate signatures, seals, and attestation. The form requires completion of specific fields including the bond number, principal name, surety information, bonding amount, and project identification details. Approval by the State's Assistant Attorney General is required before the bid bond becomes effective.
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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):
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 .