Bid_Bond_Form.pdf
PDF 114 KB Posted
- Attached to
- Ground Power Unit (GPU) Lifecycle Replacement
- Solicitation number
- 2025-IFB-065
- Issued by
- San Bernardino County, California
About this file
This document is a Bid Bond form for the Ontario International Airport Authority (OIAA) related to a Ground Power Unit (GPU) Lifecycle Replacement project in California. The bid bond serves as a financial guarantee that if the principal bidder is awarded the contract, they will enter into the contract and execute required bonds within 30 days. The bond obligates the principal and surety to pay 10% of the aggregate bid amount as liquidated damages if the bidder fails to fulfill these requirements.
The bid bond document provides a standard template for bidders to complete, requiring notarization and corporate seals. It is designed to protect the Ontario International Airport Authority by ensuring bidder commitment and providing financial recourse if the selected contractor does not proceed with the contract as expected. The form includes spaces for the principal (bidder), surety, signatures, and mandatory attachments such as a power of attorney from the surety.
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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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