Bid_Bond.pdf
PDF 70 KB Posted
- Attached to
- Franklin Road, McDermott Road to Black Cat Road
- Solicitation number
- CT227-07
- Issued by
- Ada County, Idaho
About this file
This is a Bid Bond document related to a state and local contract opportunity in Idaho for the Franklin Road widening project from McDermott Road to Black Cat Road. The bid bond serves as a financial guarantee that the bidder will enter into a contract if awarded and will provide the required performance and payment bonds. The project involves widening Franklin Road to five lanes, adding multi-use pathways on both sides, installing stormwater and irrigation facilities, implementing continuous street lighting, and signalizing the McDermott Road and Franklin Road intersection, with contractors required to coordinate with all utility contractors.
The bid bond requires the contractor to post a surety bond in an amount typically set at a percentage of the bid price to ensure good faith participation in the bidding process. This financial instrument protects the project owner by guaranteeing that if the bid is accepted, the contractor will execute the contract and obtain the necessary performance and payment bonds. The specific bond amount, bidder information, and surety details would be documented within the bid bond document to formalize the bidder's commitment to the project.
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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 .