Bid_Bond.pdf
PDF 70 KB Posted
- Solicitation number
- CT227-03
- Issued by
- Ada County, Idaho
About this file
This is a Bid Bond form required by the Ada County Highway District (ACHD) in Idaho for the Cloverdale Road, Franklin Road to Executive Drive - Thermoplastic Replacement project. The bond serves as a financial guarantee that a bidder will enter into a contract if awarded. The work involves removing and replacing existing pavement markings on concrete pavement with thermoplastic pavement markings in accordance with project plans and specifications. The project includes nighttime construction operations and is designed to improve pavement-marking visibility and durability while reducing future maintenance requirements. Bidders awarded the contract must furnish Performance and Labor and Material Payment bonds within ten days (excluding weekends and legal holidays) after contract presentation.
The bid bond amount equals ten percent of the total proposal amount submitted by the principal contractor. The bond requires a surety to guarantee the principal's performance and contract compliance. The surety agent's power-of-attorney must be attached to the bid bond submission. This form is optional for contractor use and must be executed by the principal, witnessed appropriately (either by individual/firm signature or corporate officer with seal), and executed by the surety with proper authorization documentation.
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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:
(Contract Name)
(Contract Number)
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 _______________, ________.
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
C
SURETY AGENT'S POWER-OF-ATTORNEY MUST BE ATTACHED
File details come from the government source that posted it. Updated .