Bid Bond.pdf
PDF 101 KB Posted
- Solicitation number
- BPM058790
- Issued by
- Baltimore City, Maryland
About this file
This is a Bid Bond document for the Maryland Military Department related to a project to replace steam boiler header pipework at the Fifth Regiment Armory in Baltimore, Maryland. The bid bond serves as a financial guarantee that the bidder will enter into the contract if selected and will provide the required performance and payment bonds upon award. The bond ensures the integrity of the bidding process by protecting the state from financial loss should a successful bidder fail to execute the contract or provide the necessary bonding documents.
The bid bond establishes the penal sum as security for the bidder's contractual obligations and remains in effect until the contractor furnishes the required performance and payment bonds or until the bid is rejected. Standard bid bond conditions apply, including release provisions upon contract execution and bonding. The document includes identification sections for the principal (bidder), surety company, and obligee (Maryland Military Department), with signature lines for authorized representatives. This document is a standard procurement requirement designed to ensure that only serious and qualified bidders participate in the competitive bidding process for this steam boiler header replacement project.
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Text version
Bid Bond Page-1 effective date: May 1, 2018
Bid Bond
Bond No. __________________
We, _______________________________ as Principal, hereinafter called the Principal, and ____________________________, a corporation duly organized under the laws of the State of __________________, as Surety, hereinafter called the Surety, are held and firmly bound unto the State of Maryland, hereinafter called "State", for the sum of _______________________________________ for the payment of which sum, the Principal and the Surety bind ourselves, our heirs, executors, administrators, successors and assigns, jointly and severally, firmly by these presents.
WHEREAS, the Principal has submitted a bid for:
M-341-230-002A (IQC) Rebid Replace Steam Boiler Header Pipework at the Maryland Military Department – Fifth Regiment Armory
NOW, THEREFORE, if the Principal, upon acceptance by the State of its bid identified above, within the period specified therein for acceptance (ninety (90) days, if no period is specified), shall execute such further contractual documents, if any, and give such bond(s) as may be required by the terms of the bid as accepted within the time specified (ten (10) days if no period is specified) after receipt of the forms, or in the event of failure so to execute such further contractual documents and give such bonds, if the Principal shall pay the State the difference not to exceed the penalty hereof between the amount specified in Principal's bid and such larger amount for which the State may in good faith contract with another party to perform the work covered by said bid, then the above obligation shall be void and of no effect.
The Surety executing this instrument hereby agrees that its obligation shall not be impaired by any extension(s) of the time for acceptance of the bid that the Principal may grant to the State, notice of which extension(s) to the Surety being hereby waived; provided that such waiver of notice shall apply only with respect to extensions aggregating not more than ninety (90) calendar days in addition to the period originally allowed for acceptance of the bid.
Individual Principal
In Presence of:
Witness
(Name) as to (SEAL)
Partnership Principal
In Presence of:
Witness
(Name) as to (SEAL) Partner as to (SEAL) Partner as to (SEAL) Partner
Bid Bond Page-2 effective date: May 1, 2018
Corporate Principal
Attest: (Name of Corporation) AFFIX
SEAL
By:
Secretary President
Attest: (Surety)
By:
Attorney-in-fact AFFIX
SEAL
Bonding Agent’s Name
Agent’s Address:
Approved as to form and legal sufficiency this ____ day of _____ 20___
Assistant Attorney General
Bid Bond
File details come from the government source that posted it. Updated .