B-Bidbond - Fillable.pdf
PDF 92 KB Posted
- Attached to
- TYS RW 5R-23L Rehab Project 1
- Solicitation number
- IFB-MKAA-0000000002
- Issued by
- Bradley County, Tennessee
About this file
This document is a Bid Bond for the Runway 5R-23L Rehabilitation - Project 1 at McGhee Tyson Airport, issued by the Metropolitan Knoxville Airport Authority in Alcoa, Tennessee on February 9, 2025. The bid bond serves as a financial guarantee that ensures the principal bidder will honor their bid and execute the contract if awarded, covering the potential costs of labor and materials for the runway rehabilitation project.
The bid bond outlines the conditions under which the surety (the guarantor) will be responsible for the penal sum of the bond. If the bid is rejected or if the principal fails to execute the contract as proposed, the surety remains liable. The bond specifically stipulates that the surety's liability shall not exceed the stated penal amount, and the surety waives notice of any time extension for bid acceptance. The document requires specific execution requirements, including signature by the surety's Tennessee Resident Agent and, if applicable, signatures from all partners in a partnership.
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Text version
MCGHEE TYSON AIRPORT RUNWAY 5R-23L REHABILITATION – PROJECT 1
ALCOA, TENNESSEE ISSUED FOR BID – FEBRUARY 9, 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 1.
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 1
ALCOA, TENNESSEE ISSUED FOR BID – FEBRUARY 9, 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 .