Bid Bond.pdf
PDF 102 KB Posted
- Solicitation number
- BPM059610
- Issued by
- Baltimore County, Capitol Heights Town, Maryland
About this file
This is a Bid Bond form issued by the State of Maryland for contract opportunity SG-000-270-003, concerning roof replacement, repair, and gutter replacement services at Red Brick Cottages 1-4. The bid bond obligates the principal (bidder) and surety to enter into a contractual agreement with the State upon acceptance of the submitted bid. The principal must execute further contractual documents and provide required bonds within ten days of receiving forms if no other period is specified, or within a timeframe designated by the State. The acceptance period for the bid is ninety days if no alternative period is stated. Should the principal fail to execute the necessary documents and bonds, the surety guarantees payment to the State of the difference between the principal's bid amount and any higher amount the State incurs to contract with another party for the work, not to exceed the bid bond penalty amount. The surety's obligation shall not be impaired by extensions of the bid acceptance period up to an additional ninety calendar days.
The bid bond form provides spaces for completion of the bond number, principal name and information, surety details including state of incorporation, penalty amount, and required signatures and seals from the principal (whether individual, partnership, or corporate entity) and the surety's attorney-in-fact. The form includes attestation requirements and approval lines for the State's Assistant Attorney General. No pricing terms, set-asides, incumbent information, or funding details are specified within this bid bond document itself, as it serves solely to establish the surety obligation mechanism for the bidding process.
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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: SG-000-270-003 Roof Replacement, Repair and Gutter
Replacement Red Brick Cottages 1-4
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 .