Bid_Bond.pdf
PDF 70 KB Posted
- Attached to
- Ten Mile Road and Deer Flat Road
- Solicitation number
- CT227-10
- Issued by
- Ada County, Idaho
About this file
This is a Bid Bond document related to the Ten Mile Road and Deer Flat Road roundabout construction project in Idaho. The bid bond serves as a financial guarantee that the bidder will execute a contract if selected for award. The document establishes the bonding requirements necessary for contractors to submit bids on this infrastructure project, which involves constructing a roundabout at the intersection of Ten Mile Road and Deer Flat Road, including concrete and asphalt paving, curb and gutter installation, multi-use pathways, Rectangular Rapid Flashing Beacons, school zone flashers, street lighting, stormwater management, irrigation, and water line installations.
The bid bond document outlines the financial security requirements that bidders must provide as a condition of bid submission. This guarantee protects the government entity by ensuring that the awarded contractor will enter into the contract at the bid price. The bond amount and specific terms would be detailed within the document to establish the level of financial commitment required from prospective bidders on this Idaho state and local infrastructure 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 .