Bid_Bond.pdf
PDF 147 KB Posted
- Solicitation number
- IFB- 25 - 138
- Issued by
- Pinellas County, Florida
About this file
This document is a Bid Bond for the City of St. Petersburg, Florida, specifically related to Invitation for Bid (IFB) No. 25-138 for Indoor Firearms Range Preventive Maintenance Services. The bid bond serves as a guarantee that if the principal (bidder) is awarded the contract, they will enter into a written contract within ten consecutive calendar days after receiving written notice of award and furnish a performance bond equal to 100% of the bid amount. The bond represents five percent (5%) of the total bid value and is a required submission with the bid to ensure the bidder's commitment to the project.
The bid bond protects the City of St. Petersburg by providing financial recourse if the selected bidder fails to complete the required contractual steps after being awarded the bid. If the principal does not fulfill the contract requirements, the surety agrees to pay the specified sum to the city as liquidated damages. The document provides a standardized template for the bid bond, including spaces for the principal's and surety's information, signatures, and seals, and includes a note requiring a power of attorney document to be attached verifying the surety's authorization to execute the bond.
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Text version
BID BOND
BOND # ____________________
STATE OF FLORIDA
(COUNTY OF ________________)
(CITY OF ___________________)
KNOW ALL MEN BY THESE PRESENTS:
That we, (hereinafter called “Principal”) (Name of Corporation, Partnership, or LLC) located at __________________________________________________, (____)___________, (Principal Business Address) (Phone Number) and (hereinafter called “Surety”) (Name of Surety) located at __________________________________________________, (____)___________, (Surety Business Address) (Phone Number) are held and firmly bound unto the City of St. Petersburg, Florida (hereinafter called "City") in the sum of: Dollars ($ ) lawful money of the United States of America, for the payment of which sum well and truly to be made, we bind ourselves, our heirs, executors, administrators, and successors, jointly and severally, firmly by these presents.
WHEREAS, the Principal: contemplates submitting or has submitted a Bid to the City for:
IFB No. 25-138, Indoor Firearms Range Preventive Maintenance Services
WHEREAS, it was a condition precedent to the submission of said Bid that a certified check, cashier's check or Bid Bond in the amount of five percent (5%) of the Bid be submitted with said Bid as a guarantee that, if awarded the contract, the Principal would, within ten (10) consecutive calendar days after written notice of award (or such longer period of time agreed to by the City), enter into a written contract with the City and furnish the required performance bond (or alternate form of security permitted by applicable laws) in an amount equal to one hundred percent (100%) of the Bid satisfactory to the City.
NOW, THEREFORE, THE CONDITIONS OF THIS OBLIGATION ARE SUCH, that if the Bid and the Principal herein be accepted and within ten (10) consecutive calendar days after written notice of award (or such longer period of time agreed to by the City) said Principal enter into a written contract with the City, and furnish the required performance bond (or alternate form of security permitted by applicable laws) in an amount equal to one hundred percent (100%) of the Bid, satisfactory to the City, then this obligation shall be void; otherwise, the sum herein stated shall be due and payable to the City and the Surety herein agrees to pay said sum immediately upon demand of said City, in good and lawful money of the United States of America, as liquidated damages for failure thereof of said Principal.
IN TESTIMONY WHEREOF, the hands and seals of the parties hereto this _____ day of __________________, 20____.
SURETY:
SURETY NAME
BY:
(Signature of Attorney-in-Fact)
(Print or Type Name of Attorney-in-Fact)
(Florida license # of Attorney-in-Fact)
Note: A copy of a power of attorney attested by the corporate secretary of the Surety evidencing the Attorney-in-Fact named above is currently authorized to execute this bond on behalf of the Surety must be attached to this bond.
PRINCIPAL:
PRINCIPAL NAME
(Signature)
(Print or Type Name and Title)
Check applicable box below (check only one box):
Principal has a seal. If checked, attest and impress Principal’s seal:
ATTEST:
(Print or Type Name)
Principal has no seal. If checked, provide two witness signatures:
WITNESS 1 for Principal:
WITNESS 2 for Principal:
00525848 September 2020
Principal Seal
Surety Seal
File details come from the government source that posted it. Updated .