Attachment C - SF 24 - Bid Bond.pdf

This is Standard Form 24 (SF 24), a federal Bid Bond form used when a bid guarantee is required for federal contract solicitations. The form is prescribed by the General Services Administration under 48 CFR 53.228(a) and has an OMB control number 9000-0001 with an expiration date of January 31, 2027.

The form requires the Principal (bidder) to provide full legal name, business address, and organizational type (individual, partnership, joint venture, or corporation). A penal sum amount must be specified as either a fixed dollar amount or percentage of the bid price, with instructions allowing a maximum dollar limitation if expressed as a percentage. The Principal and one or more sureties (either individual or corporate) must execute the bond and affix seals, with corporate sureties required to appear on the Department of Treasury's list of approved sureties and operate within specified liability limitations. The obligation binds the Principal and sureties jointly and severally to the United States Government for payment of the penal sum. The bond becomes void upon acceptance of the bid by the Government within the specified acceptance period (sixty days if no period is specified) and execution of required contractual documents and bonds, or if the Principal fails to execute further documents, the Government may procure the work at the Principal's expense for any costs exceeding the bid amount. Individual surety bonds require completion of Standard Form 28 (Affidavit of Individual Surety). The form includes sections for Principal signature(s) and up to six corporate or individual sureties with their respective names, addresses, state of incorporation, and liability limits.