Bid_Bond_.pdf

Any singular reference to Bidder, Surety, Owner or other party shall be considered plural where applicable.

BIDDER (Name and Address): ___________________________________________

SURETY (Name, and Address of Principal Place of Business):_________________________________________

OWNER (Name and Address): Okaloosa County Board of County Commissioners

1250 N. Eglin Parkway_________________________

Shalimar, FL 32579___________________________

BID

Bid Due Date: __________________________________________ Description:

BOND

Bond Number: __________________________________________

Date: __________________________________________

Penal Sum: __________________________________________

(Words) (Figures)

Surety and Bidder, intending to be legally bound hereby, subject to the terms set forth below, do each cause this Bid

Bond to be duly executed by an authorized officer, agent, or representative.

BIDDER SURETY

__________________________________________(seal) __________________________________________ Contractor’s Name and Corporate Seal Surety’s Name and Corporate Seal

By: ________________________________________ By: _______________________________________

Signature Signature (attach power of attorney)

Print Name Print Name

Title Title

Attest: _____________________________________ Attest:____________________________________

Signature Signature

Title Title

Note: Addresses are to be used for giving any required notice.

DOCUMENT- BID BOND

Provide execution by additional parties, such as joint venturers, if necessary.

1. Bidder and Surety, jointly and severally, bind themselves, their heirs, executors, administrators, successors, and assigns to pay to Owner upon default to Bidder the penal sum set forth on the face of this Bond. Payment of the penal sum is the extent of Bidder’s and Surety’s liability. Recovery of such penal sum under the terms of this

Bond shall be Owner’s sole and exclusive remedy upon default of Bidder.

2. Default of Bidder shall occur upon the failure of Bidder to deliver within the time required by the Bidding

Documents (or any extension thereof agreed to in writing by Owner) the executed Agreement required by the

Bidding Documents and any performance and payment bonds required by the Bidding Documents.

3. This obligation shall be null and void if:

a. Owner accepts Bidder’s Bid and Bidder delivers within the time required by the Bidding Documents (or any extension thereof agreed to in writing by Owner) the executed Agreement required by the Bidding

Documents and any performance and payment bonds required by the Bidding Documents, or

b. All Bids are rejected by Owner, or

c. Owner fails to issue a Notice of Award to Bidder within the time specified in the Bidding Documents (or any extension thereof agreed to in writing by Bidder and, if applicable, consented to by Surety when required by Paragraph 5 hereof).

4. Payment under this Bond will be due and payable upon default of Bidder and within 30 calendar days after receipt by Bidder and Surety of written notice of default from Owner, which notice will be given with reasonable promptness, identifying this Bond and the Project and including a statement of the amount due.

5. Surety waives notice of any and all defenses based on or arising out of any time extension to issue Notice of

Award agreed to in writing by Owner and Bidder, provided that the total time for issuing Notice of Award including extensions shall not in the aggregate exceed 120 days from the Bid due date without Surety’s written consent.

6. No suit or action shall be commenced under this Bond prior to 30 calendar days after the notice of default required in Paragraph 4 above is received by Bidder and Surety and in no case later than one year after the Bid due date.

7. Any suit or action under this Bond shall be commenced only in a court of competent jurisdiction located in the state in which the Project is located.

8. Notices required hereunder shall be in writing and sent to Bidder and Surety at their respective addresses shown on the face of this Bond. Such notices may be sent by personal delivery, commercial courier, or by United States

Registered or Certified Mail, return receipt requested, postage pre-paid, and shall be deemed to be effective upon receipt by the party concerned.

9. Surety shall cause to be attached to this Bond a current and effective Power of Attorney evidencing the authority of the officer, agent, or representative who executed this Bond on behalf of Surety to execute, seal, and deliver such Bond and bind the Surety thereby.

10. This Bond is intended to conform to all applicable statutory requirements. Any applicable requirement of any applicable statute that has been omitted from this Bond shall be deemed to be included herein as if set forth at length. If any provision of this Bond conflicts with any applicable statute, then the provision of said statute shall govern and the remainder of this Bond that is not in conflict therewith shall continue in full force and effect.

11. The term “Bid” as used herein includes a Bid, offer, or proposal as applicable.

END OF DOCUMENT- BID BOND DOCUMENT