Bid_Bond.docx
DOCX document 23 KB Posted
- Attached to
- Wastewater SCADA System HMI Replacement
- Solicitation number
- 2026-RFP-006
- Issued by
- Greenville County, South Carolina
About this file
This is a Bid Bond form template for the Greenwood Metropolitan District in South Carolina, establishing the penal sum requirements and conditions for bidders submitting proposals on public projects. The form serves as a surety instrument binding the Principal (bidder) and Surety (bonding company) jointly and severally to the Owner, with the obligation becoming void upon either rejection of the bid or acceptance of the bid coupled with the Principal's execution of the contract, furnishment of a performance and payment bond, and full performance of all contractual obligations. The bond protects the Owner by ensuring bidder compliance and contract performance, with the Surety waiving notice of any time extensions granted by the Owner. The penal sum amount, principal name, surety name, project description, and execution date are to be completed by the parties at the time of bid submission.
The form contains standard bid bond language specifying that the Surety's liability shall not exceed the stated penal amount and that the bond obligation remains in effect for a minimum period to be determined by the specific solicitation. No pricing, set-asides, incumbent information, or funding details are specified within this template document, as it is a blank form intended for use across multiple Greenwood Metropolitan District solicitations. Bidders are required to obtain a completed bid bond from a licensed surety prior to bid submission as a condition of proposal acceptance.
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Text version
PENAL SUM FORM
PENAL SUM FORM
BID BOND
KNOW ALL MEN BY THESE PRESENTS, that we, the undersigned _________________________________ ___________________________________________________________________________as Principal, and _________________________________________________________________________as Surety, are Hereby held and firmly bound unto GREENWOOD METROPOLITAN DISTRICT as Owner, in the penal sum amount of __________________________________________________________________Dollars (words), $_________________________._____ (numbers) 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 Condition of the above obligation is such that whereas the Principal has submitted to Owner a certain BID, attached hereto and hereby made a part hereof, to enter into a contract in writing, for:_________________________________________________________________ (Project Description)
NOW, THEREFORE,
(a) If the 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 Contract attached hereto (properly completed in accordance with said BID) and shall furnish a BOND for his faithful performance of said contract, 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 the obligations of said Surety and its BOND 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.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.
| ______________________________________ |
| Principal |
| ______________________________________ |
| Surety |
By: ______________________________________
SEAL
END SECTION
Greenwood Metropolitan district 00410 -2 07-065.1 Greenwood Metropolitan District
File details come from the government source that posted it. Updated .