Attachment-C.-Bid-Bond Incoporated.pdf
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- Attached to
- (IQC) E-500-260-003 - Replace (9) Nine AHU Humidifiers at the Main Hospital - Cambridge, MD
- Solicitation number
- BPM058339
- Issued by
- Dorchester County, Capitol Heights Town, Maryland
About this file
This is a Bid Bond form for the State of Maryland related to solicitation E-500-260-003 for the replacement of nine AHU humidifiers at the Main Hospital in Cambridge, Maryland. The project is restricted to Small Business Enterprises approved for the Master Contractors Eastern Region contract. The bid bond serves as a guarantee that the successful bidder will execute required contractual documents and provide any necessary performance bonds within specified timeframes. The State allows ninety calendar days for bid acceptance if no other period is specified, and ten calendar days for the principal to execute further contractual documents and provide required bonds after receiving forms. Should the principal fail to meet these obligations, the surety agrees to pay the State the difference between the submitted bid amount and any higher cost incurred by the State to contract with another party, up to the penalty amount of the bond.
The bid bond requires the principal to identify a surety corporation organized under state law and establishes joint and several liability between the principal and surety. The surety waives notice of bid acceptance extensions aggregating up to ninety additional calendar days beyond the original acceptance period. The bond document requires execution by either an individual principal with witness attestation, partnership principals with partner signatures, or a corporate principal with corporate officer signatures and seal. All bonds must be approved as to form and legal sufficiency by the Assistant Attorney General before execution. The effective date of this bond template is July 2024.
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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
E-500-260-003 - Replace (9) Nine AHU Humidifiers at the Main Hospital (IQC) - Cambridge, MD
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 .