BID_BOND.pdf
PDF 81 KB Posted
- Attached to
- 123 N. H Street EV Charger Parking Lot Project
- Solicitation number
- 2026-ITB-002DW
- Issued by
- Santa Barbara County, Los Angeles City, California
About this file
This is a Bid Bond document for the City of Lompoc, California, related to the 123 N. H Street EV Charger Parking Lot Project. The bid bond serves as a financial guarantee that a bidder will execute a contract if awarded. Bids for the project must be submitted by 2:00 pm on Thursday, January 29, 2026, with proposals remaining valid for 90 calendar days following the bid opening date. The project scope includes grading and paving improvements, concrete walkways, curbing, ADA-accessible parking upgrades, EV charging station and bollard installation, landscaping, signage, pavement markings, and electrical coordination for conduit placement and power connections for charging units and lighting systems.
The bid bond requires a surety bond equal to ten percent (10%) of the aggregate bid amount, which may be waived if a certified or cashier's check accompanies the bid. If a bid is accepted and awarded, the principal must enter into a contract and execute required bonds within thirty (30) days of the award; failure to do so results in forfeiture of the bid bond amount as liquidated damages. All signatures on the bond must be notarized with corporate seals affixed, and the surety's attorney-in-fact must provide a power of attorney authorization.
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Text version
BID BOND
(Not required if certified or cashier’s check accompanies the bid)
KNOW ALL MEN BY THESE PRESENTS THAT WE, as Principal, And, , as Surety, authorized and licensed to transact business in the State of California, do hereby acknowledge ourselves to be held and obligated as joint Obligors to the CITY OF LOMPOC, as Obligee, in the sum of ten percent (10%) of the aggregate amount bid by the principal. Said Principal and Surety do hereby bind themselves, their heirs, executors, administrators, successors, and assigns, jointly and severally by their bond.
WHEREAS, said Principal is about to submit to the City of Lompoc the foregoing bid or proposal for performance of the work therein mentioned, which includes the furnishing of all materials in compliance with the specifications and plans, if any, under the Notice Inviting Bids/Proposals from said City of Lompoc.
NOW, THEREFORE, if the bid or proposal of the Principal is accepted and awarded to said Principal by the City of Lompoc and if said Principal fails or neglects to enter into a contract and/or to execute the required bonds in connection with the contract within thirty (30) days after the contract is awarded to said Principal, then, the above-named Obligors shall pay to said Obligee the aforementioned sum of ten percent (10%) of the aggregate amount bid, as liquidated damages for such failure or neglect.
THEIR AGREEMENT shall be binding on the Principal and Surety executing the same, their legal representatives, successors, and assigns.
EXECUTED their day of 2026
Witness PRINCIPAL
Typed Witness Name By:
Signature/Title
(CORP. SEAL)
Witness SURETY
Typed Witness Name By:
Signature/Title
(CORP. SEAL) Attorney in Fact
Notary
NOTE: ALL SIGNATURES MUST BE NOTARIZED AND CORPORATE SEALS AFFIXED TO THEIR BOND.
ATTORNEY-IN-FACT MUST ATTACH A POWER OF ATTORNEY FROM THE SURETY.
BID BOND
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