B-Bidbond - Fillable.pdf

92 KB Posted

Attached to
TYS RW 5R-23L Rehab Project 2
Solicitation number
IFB-MKAA-0000000004
Issued by
Bradley County, Tennessee

About this file

Written by GovTribe AI ·

This document is a Bid Bond for the Metropolitan Knoxville Airport Authority related to the Runway 5R-23L Rehabilitation - Project 2 at McGhee Tyson Airport in Alcoa, Tennessee. The bid bond is issued for bid purposes on March 23, 2025, and serves as a financial guarantee for the bidding process. The document outlines the conditions under which the bond will be void or remain in effect, including provisions for the principal to execute a contract, pay for labor and materials, and perform all agreement requirements.

The bid bond stipulates that the surety's liability is limited to the penal amount specified in the document, and the surety agrees that its obligations will not be impaired by any time extensions for bid acceptance. The bond requires specific execution details, including signatures from the principal and surety, with additional notes about Tennessee Resident Agent signatures and requirements for partnership execution. While specific financial details are not fully populated in this template, the document provides the standard legal framework for ensuring bid reliability and contractor commitment for the airport runway rehabilitation project.

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MCGHEE TYSON AIRPORT RUNWAY 5R-23L REHABILITATION – PROJECT 2

ALCOA, TENNESSEE ISSUED FOR BID – MARCH 23, 2025

BID BOND B-6

BID BOND

KNOW ALL MEN BY THESE PRESENTS, that we, the undersigned

__________________________________________________________________ as Principal, and

______________________________________________________________ as Surety, are hereby held and firmly bound unto ________________________________ OWNER in the penal sum of for the payment of which, well and truly to be made, we hereby jointly and severally bind ourselves, our heirs, executors, administrators, successors, and assigns.

Signed, this ____________ day of _________________, 20___.

The conditions of the above obligation is such that whereas the Principal has submitted to the Metropolitan Knoxville Airport Authority a certain BID, attached hereto and hereby made a part hereof to enter into a Contract in writing for the Runway 5R-23L Rehabilitation - Project 2.

NOW THEREFORE,

(a) If said Bid shall be rejected, or in the alternate,

(b) If said Bid shall be accepted and the Principal shall execute and deliver a Contract in the Form of Agreement attached hereto (properly completed in accordance with said Bid) and for the payment of all persons performing labor or furnishing materials in connection therewith, and shall in all other respects perform the agreement created by the acceptance of said Bid, then this obligation shall be void, otherwise the same shall remain in force and effect; it being expressly understood and agreed that the liability of the Surety for any and all claims hereunder shall, in no event, exceed the penal amount of this obligation as herein stated.

The Surety, for value received, hereby stipulates and agrees that obligations of said Surety and its Bonds shall be in no way impaired or affected by any extension of the time within which the Owner may accept such BID; and said Surety does hereby waive notice of any such extension.

BID BOND B-7

IN WITNESS WHEREOF, the Principal and the Surety have hereunto set their hands and seals, and such of them as are corporations have caused their corporate seals to be hereto affixed and these presents to be signed by their proper officers, the day and year first set forth above.

______________________________ (L.S.)

Principal

Surety

By: ___________________________

(SEAL)

(1) Bond must be signed or countersigned by the Surety's proper Tennessee Resident

Agent. Date of Power-of-Attorney shall be same date as date of Bond.

(2) If Partnership, all partners shall execute Bond.

MCGHEE TYSON AIRPORT RUNWAY 5R-23L REHABILITATION – PROJECT 2

ALCOA, TENNESSEE ISSUED FOR BID – MARCH 23, 2025

as Principal and:
as Surety are hereby:
OWNER:
in the penal sum of:
day of:
20:
Principal:
Surety:
By:
BID BOND_2:
B7:

File details come from the government source that posted it. Updated .