Bid Bond.pdf
PDF 99 KB Posted
- Solicitation number
- BPM039468
- Issued by
- Anne Arundel County, Annapolis City, Maryland
About this file
This document is a Bid Bond for a state and local contract opportunity in Maryland. The contract solicitation is for the removal and replacement of the HVAC system, including the existing air handling unit, at the MPT - Annapolis MD Transmitter located in Annapolis, Anne Arundel County. The bond secures the bid submitted by the principal for this project, identified as TV-661-240-003, and binds the principal and surety to the State of Maryland for a specified monetary amount. If the principal is awarded the contract and fails to execute the required contractual documents or provide the necessary bonds, the bond can be used to cover the difference in cost for the State to contract with another party.
The contract opportunity does not provide details on pricing terms, set-asides, incumbents, funding requirements and sources, or other salient commercial information. The Bid Bond stipulates the process and conditions for acceptance of the bid, execution of the contract, and forfeiture of the bond if the principal fails to meet the specified requirements.
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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 (Identify project by number and brief description):
TV-661-240-003 - HVAC System (Split Unit)
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
Corporate Principal
Bid Bond Page-2 effective date: May 1, 2018
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
File details come from the government source that posted it. Updated .