Bid Bond Form (1).pdf

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Attached to
HVAC UNIT (LABORATORY DEPARTMENT)
Solicitation number
ARFQ 0512 WEH2500000007 3
Issued by
Mineral County, West Union Town, West Virginia

About this file

This is a Bid Bond Form for the State of West Virginia, Department of Administration, Purchasing Section, for a contract opportunity in Welch Community (ARFQ WEH25*07). The bid bond is a standard surety instrument required to accompany bid submissions to the state. It serves as a performance guarantee that the bidding principal will execute a written contract in accordance with the submitted bid and proposal if selected for award. The bond remains effective until either the bid is rejected or the principal enters into the contract, furnishes any required bonds and insurance, and performs all obligations arising from bid acceptance.

The bid bond requires execution by both the principal (bidder) and an authorized surety corporation licensed to conduct surety insurance business in West Virginia. The surety must affix its official seal and attach a power of attorney with seal to the bond document. The penal sum of the bond, principal information, surety details, execution date, and signatory officer titles (President, Vice President, or Duly Authorized Agent) must be completed on the form. The surety's liability is limited to the stated penal amount, and the surety waives notice of any extensions to the bid acceptance period. All signatures and seals must be properly executed by authorized representatives of both the principal and surety entities.

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Text version

Agency

REQ.P.O#

BID BOND

KNOW ALL MEN BY THESE PRESENTS, That we, the undersigned, of , , as Principal, and of , , a corporation organized and existing under the laws of the State of with its principal office in the City of , as Surety, are held and firmly bound unto the State of West Virginia, as Obligee, in the penal sum of ($ ) for the payment of which, well and truly to be made, we jointly and severally bind ourselves, our heirs, administrators, executors, successors and assigns.

The Condition of the above obligation is such that whereas the Principal has submitted to the Purchasing Section of the

Department of Administration a certain bid or proposal, attached hereto and made a part hereof, to enter into a contract in writing for

NOW THEREFORE,

(a) If said bid shall be rejected, or

(b) If said bid shall be accepted and the Principal shall enter into a contract in accordance with the bid or proposal attached hereto and shall furnish any other bonds and insurance required by the bid or proposal, and shall in all other respects perform the agreement created by the acceptance of said bid, then this obligation shall be null and void, otherwise this obligation shall remain in full force and effect. It is expressly understood and agreed that the liability of the Surety for any and all claims hereunder shall, in no event, exceed the penal amount of this obligation as herein stated.

The Surety, for the value received, hereby stipulates and agrees that the obligations of said Surety and its bond shall be in no way impaired or affected by any extension of the time within which the Obligee may accept such bid, and said Surety does hereby waive notice of any such extension.

WITNESS, the following signatures and seals of Principal and Surety, executed and sealed by a proper officer of Principal and

Surety, or by Principal individually if Principal is an individual, this day of , 20 .

Principal Seal (Name of Principal)

By

(Must be President, Vice President, or Duly Authorized Agent)

(Title)

Surety Seal (Name of Surety)

Attorney-in-Fact

IMPORTANT – Surety executing bonds must be licensed in West Virginia to transact surety insurance, must affix its seal, and must attach a power of attorney with its seal affixed.

REQPO: Welch Community
undefined: ARFQ WEH25*07
of:
undefined_2:
as Principal and:
of_2:
undefined_3:
a corporation organized and existing under the laws of the State of:
undefined_4:
with its principal office in the City of:
of West Virginia as Obligee in the penal sum of:
as Surety are held and firmly bound unto the State:
well and truly to be made we jointly and severally bind ourselves our heirs administrators executors successors and assigns:
undefined_5:
Department of Administration a certain bid or proposal attached hereto and made a part hereof to enter into a contract in writing for 1:
Department of Administration a certain bid or proposal attached hereto and made a part hereof to enter into a contract in writing for 2:
Department of Administration a certain bid or proposal attached hereto and made a part hereof to enter into a contract in writing for 3:
Surety or by Principal individually if Principal is an individual this:
20:
undefined_6:
Name of Principal:
Title:
Name of Surety:

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