Bid_Bond.pdf
PDF 80 KB Posted
- Attached to
- McMillan Road and McDermott Road Signal
- Solicitation number
- CT226-28
- Issued by
- Ada County, Idaho
About this file
This is a Bid Bond document for the Ada County Highway District (ACHD) related to the McMillan Road and McDermott Road Signal project in Idaho. The bid bond serves as a financial guarantee for a contractor submitting a sealed proposal for traffic signal installation and related road improvements at the intersection of McMillan Road and McDermott Road. If the Principal is awarded the contract, they must execute Performance and Labor and Material Payment bonds within ten days of contract presentation for the obligation to become null and void. The project scope includes asphalt widening along McMillan Road, installation of pedestrian ramps, pavement striping and markings, and coordination with Canal Ada and the City of Meridian regarding concurrent sewer work in the area, with ACHD Traffic Operations handling traffic signal installation and electrical work.
The bid bond is established at ten percent (10%) of the total proposal amount as the penal sum, which represents the financial commitment required from the Principal and their Surety to ensure contract performance. The bond document requires execution by the Principal, Surety, and Surety Agent, with the Surety Agent's Power-of-Attorney attached as a mandatory requirement. No other pricing terms, set-asides, funding amounts, or financial details are specified in this bid bond template, which serves as an optional form for contractor and bonding company use in securing their proposal submission.
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Text version
BID BOND
KNOW ALL MEN BY THESE PRESENTS, that we ___________________________________ _____________________________________ of _____________________________________ as Principal, and ______________________________________________________________ as Surety, are held and firmly bound unto the Ada County Highway District (hereinafter called ACHD) in the full and penal sum of ten percent (10%) of the total amount of the proposal of said Principal for the work hereinafter described, for the payment of which will and truly to be made, we bind ourselves, our heirs, executors, administrators, successors and assigns, firmly by these presents.
The condition of this obligation is such that, whereas the Principal has this day submitted a sealed proposal for:
McMillan Rd and McDermott Rd Signal
CT226-28
NOW, THEREFORE, if said Principal shall be awarded and shall duly make and enter into a contract with ACHD in accordance with the terms of said proposal and award, and shall within ten
(10) days (not including Saturdays, Sundays and legal holidays) after presentation of the contract furnish Performance and Labor and Material Payment bonds, then this obligation shall be null and void; otherwise, it shall be and remain in full force and effect.
IN WITNESS WHEREOF, the above bounden parties have executed this instrument this _____ day of _______________, 2026.
Witness: (if Individual or Firm)
Principal:
Attest: (if Corporation) By:
Title:
Corporate Seal:
Attest
Surety:
By:________________________________ (Signature)
(Print Name)
(Title)
SURETY AGENT'S POWER-OF-ATTORNEY MUST BE ATTACHED
NOTE:
This form is included for optional use by the Contractor and Bonding Company.
SURETY AGENT'S POWER-OF-ATTORNEY MUST BE ATTACHED
File details come from the government source that posted it. Updated .