Bid_Bond_Form.docx
DOCX document 15 KB Posted
- Attached to
- UCC Generator Replacement Project
- Solicitation number
- IFB194006
- Issued by
- Santa Clara County, California
About this file
The document is a Bid Bond form for a project by the City of Palo Alto, California, specifically for the UCC Generator Replacement Project. The project involves removing and replacing a generator system, including associated infrastructure such as a fuel tank, mat slab, stairs, power feed, and an 800-amp triple enclosure with lighting in the exterior mechanical area. Additionally, the project requires installing a 600-amp automatic transfer switch, a 200-amp panel in the electrical room, and adding lighting to the mechanical room.
The Bid Bond form stipulates a bond amount of 10% of the maximum bid proposal, serving as a financial guarantee that the contractor will honor their bid and execute contract documents if awarded. The surety (bonding company) commits to ensuring the contractor either enters into the contract within ten days of the Notice of Award or pays the difference if the owner must contract with another party. The bond provides protection for the City of Palo Alto and ensures the contractor's financial and contractual commitment to completing the generator replacement project as specified.
View the file
Other files
Show all 21
On GovTribe
Work with this file
- Download the original file
- Contacts named in this file
- Similar government files
- Ask GovTribe AI about this file
Text version
BID BOND
CONTRACTOR: _________________________________________________________________________________ (Insert name, legal status, and complete business address (principal place of business).
| SURETY: | _______________________________________________________________________________ |
| (Insert name, legal status, and complete business address (principal place of business). |
| Surety warrants that it is a duly admitted surety insurer under the laws of the State of California. | |
| OWNER: | City of Palo Alto, 250 Hamilton Avenue, Palo Alto, CA 94301 |
BOND AMOUNT: (Insert the amount of this Bid Bond in numbers and words) __________________________________________________________________Dollars and ____________ Cents The Bond Amount set forth above shall be the penal sum (“penalty amount”) of TEN PERCENT (10%) of the maximum amount of the Bid Proposal submitted by Contractor to Owner, inclusive of additive and/or alternate bid items, if any, and be paid in lawful money of the United States of America. Contactor has submitted the accompanying Bid Proposal to Owner for the Project described below. The Bid Proposal must be accompanied by Bid Security.
| PROJECT: | ______________________________________________________________________________ |
| (Insert the name, location or address, and project number (if applicable) of the Project to which this Bid Bond applies. |
Contractor has purchased this Bid Bond from Surety as a guarantee to Owner that Contractor will honor its bid and execute all contract documents if awarded the contract by Owner. Contractor and Surety are bound to Owner in the amount set forth above (the Bond Amount). Under the provisions and conditions of this Bid Bond, Contractor and Surety bind themselves, their heirs, executors, administrators, successors and assigns, jointly and severally, for the payment of the Bond Amount.
| The conditions of this Bid Bond are such that if within ten (10) days of issuance of the Notice of Award, or within such time period as may be agreed to by Owner and Contractor, and Contractor either: | |
| 1) | enters into a contract with Owner in accordance with the terms of its Bid and gives such bond(s) as may be specified the Contract Documents, with a surety admitted in the jurisdiction of the Project and otherwise acceptable to the Owner, for the faithful performance of such Contract and for the prompt payment of labor and materials furnished in the prosecution of the Contract; or |
| 2) | fails to do so and pays to Owner the difference, not to exceed the amount of this Bid Bond, between the amount specified in said bid and such larger amount for which Owner may in good faith contract with another party to perform the work covered by said bid, |
then this obligation shall be null and void, otherwise this obligation shall remain in full force and effect.
| Surety herby waives any notice of an agreement between Owner and Contractor to extend the time in which Owner may accept the bid. Waiver of such notice by Surety shall not apply to any time extensions which exceed sixty (60) calendar days after award of contract as specified in the Contract Documents. Owner and Contractor shall obtain Surety‘s consent for any time extension beyond sixty (60) days. |
| For value received, Surety stipulates and agrees that no change, alteration or addition to the terms of the Contract or the Invitation for Bids, the Work to be performed thereunder, the Drawings or the Specifications accompanying the same, or any other portion of the Contract Documents shall in any way affect its obligations under this Bond. Surety hereby waives notice of any such change, alteration or addition to the terms of said Contract, the Invitation for Bids, the Work, the Drawings or the Specifications, or any other portion of the Contract Documents. |
| If this Bid Bond is issued in connection with a subcontractor’s bid to Contractor, the term Contractor which is included in this Bid Bond shall be deemed to be Subcontractor and the term Owner shall be deemed to be Contractor. |
| When this Bid Bond has been furnished to comply with statutory or other legal requirement(s) in the location of the Project, any provision in this Bid Bond which conflicts with said statutory or legal requirement shall be deemed deleted from this Bid Bond and the provisions conforming to such statutory or other legal requirement(s) shall be deemed incorporated herein by reference. When so furnished, the intent is that this Bid Bond shall be construed as a statutory bond, and not as a common law bond. |
| In the event that suit or other proceeding is brought upon this Bond by Owner, Surety shall pay to Owner all costs, expenses and fees incurred by Owner in connection such action, including without limitation, attorneys fees. Surety hereby waives the provisions of California Civil Code Section 2845. |
The Contractor and Surety have executed this Bid Bond on this day _______ of ___________, 20__ by their duly authorized agents or representatives.
| (Corporate Seal) | _______________________________________ | |
| Contractor Name |
By:_______________________________________
| _______________________________________ | |
| Typed or Printed Name of Signatory |
Its _______________________________________ Title of Signatory
| (Corporate Seal) | _______________________________________ | |
| Surety Name |
| By: _______________________________________ |
| Signature of Attorney-in-Fact for Surety |
| _______________________________________ | ||
| (Attach Attorney-in-Fact Certificate) | Typed or Printed Name |
| ( )__________________________________ |
| Area Code and Telephone Number of Surety |
File details come from the government source that posted it. Updated .