Bid_Bond_Form.pdf
PDF 114 KB Posted
- Solicitation number
- 2026-IFB-086
- Issued by
- San Bernardino County, California
About this file
This is a Bid Bond Form required by the Ontario International Airport Authority (OIAA) for the Campus-Wide Fire Alarm System Replacement project at Ontario International Airport, located at 2900 E. Airport Drive, Ontario, California. The bond serves as a financial guarantee that bidders will enter into a contract and execute required bonds within thirty (30) days of contract award. The project involves the design, construction, permitting, installation, retrofit, and replacement of the existing campus-wide fire alarm systems at the airport facility.
The bid bond amount is set at ten percent (10%) of the aggregate amount bid by the principal contractor. If a bid is accepted and awarded but the principal fails or neglects to enter into the contract and execute required bonds within the thirty-day timeframe, the surety and principal are jointly and severally obligated to pay the OIAA the full bond amount as liquidated damages. Alternatively, bidders may submit a certified or cashier's check in lieu of the bid bond. All signatures on the bond must be notarized and accompanied by corporate seals. The surety's attorney-in-fact must attach a power of attorney from the surety company to validate the bond execution.
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Text version
BID BOND
(Not required if certified or cashier's check accompanies the bid)
KNOW ALL MEN BY THESE PRESENTS
THAT WE, ____________________________
as Principal, and authorized and licensed to transact business In the State of California, as Surety, do hereby acknowledge ourselves to be held and obligated as joint Obligors to the Ontario International Airport Authority, as Obligee, in the sum of ten percent (10%) of the aggregate amount bid by the principal. Said Principal and Surety do hereby bind themselves, their heirs, executors, administrators, successors, and assigns, jointly and severally by this bond.
WHEREAS, said Principal is about to submit to the Chief Executive Officer of the OIAA the foregoing bid or proposal for performance of the work therein mentioned, which includes the furnishing of all materials in compliance with the specifications and plans, if any, under the Notice Inviting Bids/Proposals from said Chief Executive Officer.
NOW, THEREFORE, if the bid or proposal of the Principal is accepted and awarded to said Principal by the OIAA and if said Principal fails or neglects to enter into a contract and/or to execute the required bonds in connection with the contract within thirty (30) days after the contract is awarded to said Principal, then, the above-named Obllgors shall pay to said Obligee the aforementioned sum of ten percent (10%) of the aggregate amount bid, as liquidated damages for such failure or neglect.
THIS AGREEMENT shall be binding on the Principal and Surety executing the same, their legal representatives, successors, and assigns.
EXECUTED this day of , 20_________
(CORP. SEAL)
PRINCIPAL
By____________________________ Signature/Title
By____________________________ Signature/Title
(CORP. SEAL)
Notary
SURETY
By _________________________________ Attorney-in-Fact
NOTE: ALL SIGNATURES MUST BE NOTARIZED AND CORPORATE SEALS AFFIXED TO
THIS BOND. ATTORNEY-IN-FACT MUST ATTACH A POWER OF ATTORNEY FROM THE
SURETY.
#200005
| KNOW ALL MEN BY THESE PRESENTS |
| (CORP. SEAL) |
| (CORP. SEAL) |
| NOTE: ALL SIGNATURES MUST BE NOTARIZED AND CORPORATE SEALS AFFIXED TO THIS BOND. ATTORNEY-IN-FACT MUST ATTACH A POWER OF ATTORNEY FROM THE SURETY. |
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