BID_BOND_FORM.pdf
PDF 84 KB Posted
- Attached to
- 2026 Residential Streets Project
- Solicitation number
- 26-10
- Issued by
- Jefferson County, Weston CDP, Colorado
About this file
This is a Bid Bond Form for the City of Wheat Ridge, Colorado, related to Invitation to Bid (ITB) 24-150 for the Hayward Park Walking Trail project. The bond form establishes the conditions under which a contractor submits a bid and commits to executing a contract upon acceptance. The form requires the principal contractor and surety to jointly and severally bind themselves to the City of Wheat Ridge in a specified penal sum, with the bond remaining in force unless the bid is rejected or the contractor accepts the contract and executes all required documents, including a performance bond and payment bond for all labor and materials. The surety's liability is capped at the stated penal amount, and the surety waives notice of any extensions granted for bid acceptance.
The bond form requires that executing surety companies must appear on the U.S. Treasury Department's current list (Circular 570 as amended) and be authorized to conduct business in Colorado. No specific penal sum, deadline dates, or contract award information is provided in this template document, as those details would be completed on individual bond forms for each specific project bid. This document serves as a standard requirement for construction project bidding to ensure contractor compliance and financial accountability.
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Text version
BID BOND FORM
KNOW ALL MEN BY THESE PRESENTS, that we, the undersigned, (name and address of Contractor) as Principal, and
(name and address of surety) as Surety, are hereby held and firmly bound unto the City of Wheat Ridge as Owner in the penal sum of for the payment of which, well and truly to be made, we hereby jointly and severally bind ourselves, successors, and assigns.
Signed this day of , 2024
The condition of the above obligation is such that whereas the Principal has submitted to the City of Wheat Ridge a certain BID, attached hereto and hereby made a part hereof, to enter a contract in writing for the Project titled ITB- 24-150-Hayward Park Walking Trail
NOW, THEREFORE,
1. If said Bid shall be rejected or,
2. If said Bid shall be accepted and the Principal shall execute and deliver a contract in the Form of Contract attached hereto (properly completed in accordance with the said Bid) and shall furnish a Bond for his faithful performance of said Contract, and for the payment for all persons performing labor or furnishing materials in connection therewith and shall in all other respects perform the agreement created by the acceptance of said Bid.
Then this obligation shall be void, otherwise the same shall remain in force and effect; it being 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 value received, hereby stipulates and agrees that the obligations of said Surety and its Bond shall be in no way impaired or affected by an extension of the time within which the Owner may accept such Bid; and said Surety does hereby waive notice of any such extension.
IN WITNESS WHEREOF, the Principal and the Surety have hereunto set their hands and seals, and such of them as are corporations have caused their corporate seals to be hereto affixed and these presents to be signed by their proper officers, the day and year first set forth above.
(Principal/Contractor)
(Surety)
By:
IMPORTANT: Surety companies executing Bonds must appear on the Treasury Department's most current list (Circular 570 as amended) and be authorized to transact business in the State where the project is located.
File details come from the government source that posted it. Updated .