Attachment C - SF 24 - Bid Bond.pdf

This is a Standard Form 24 (SF-24) Bid Bond template, revised October 2023, prescribed by the General Services Administration under Federal Acquisition Regulation 48 CFR 53.228(a). The form is authorized for use when a bid guaranty is required in federal contract procurements and requires written approval from the Administrator of General Services for any deviations from the standard form.

The bid bond serves as a financial guarantee that a bidder will execute further contractual documents and provide required performance and payment bonds if the bid is accepted. The Principal (bidder) and Surety(ies) are bound jointly and severally to the United States Government for the penal sum amount specified on the form. The obligation becomes void if the Principal accepts the bid within the specified period (sixty days if no period is specified), executes further contractual documents and provides required bonds within ten days of receipt, or pays the Government for any costs exceeding the bid amount in the event of failure to perform. The form accommodates multiple sureties—both individual and corporate—and requires corporate sureties to appear on the Department of Treasury's approved surety list and act within stated liability limits. Individual sureties must submit a completed Affidavit of Individual Surety (Standard Form 28). The penal sum may be expressed as a percentage of the bid price with a stated maximum dollar limitation. OMB Control Number 9000-0001 applies, with an expiration date of January 31, 2027, and the estimated burden is one hour to complete.