Bid_Bond__Incurable_Document_.pdf
PDF 447 KB Posted
- Attached to
- BC-764-250-003 - Upgrade BAS System and Controls
- Solicitation number
- BPM048241
- Issued by
- Baltimore County, Edgemont CDP, Maryland
About this file
This is a Bid Bond form for the State of Maryland, specifically related to project BC-764-250-003 for the Essex District Court BAS (Building Automation System) Upgrade. The bond serves as a guarantee between the Principal (bidder), Surety (bonding company), and the State of Maryland, requiring the Principal to execute contractual documents within 10 days of bid acceptance and proceed with the work, or compensate the State for the difference between their bid and the amount paid to another contractor to complete the work.
The bond must be properly executed with corporate seals and signatures from the Principal and Surety company, including attestation by a Secretary for corporate principals and an Attorney-in-fact for the Surety. The bond remains valid for 90 days from bid submission, with possible extensions up to an additional 90 calendar days. The form requires approval from the Assistant Attorney General for legal sufficiency.
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Text version
Bid Bond Page-1 effective date: May 1, 2018
Bid Bond
Bond No. __________________
We, _______________________________ as Principal, hereinafter called the Principal, and ____________________________, a corporation duly organized under the laws of the State of __________________, as Surety, hereinafter called the Surety, are held and firmly bound unto the State of Maryland, hereinafter called "State", for the sum of _______________________________________ for the payment of which sum, the Principal and the Surety bind ourselves, our heirs, executors, administrators, successors and assigns, jointly and severally, firmly by these presents.
WHEREAS, the Principal has submitted a bid for (Identify project by number and brief description):
BC-764-250-003 - Essex District Court BAS Upgrade
NOW, THEREFORE, if the Principal, upon acceptance by the State of its bid identified above, within the period specified therein for acceptance (ninety (90) days, if no period is specified), shall execute such further contractual documents, if any, and give such bond(s) as may be required by the terms of the bid as accepted within the time specified (ten (10) days if no period is specified) after receipt of the forms, or in the event of failure so to execute such further contractual documents and give such bonds, if the Principal shall pay the State the difference not to exceed the penalty hereof between the amount specified in Principal's bid and such larger amount for which the State may in good faith contract with another party to perform the work covered by said bid, then the above obligation shall be void and of no effect.
The Surety executing this instrument hereby agrees that its obligation shall not be impaired by any extension(s) of the time for acceptance of the bid that the Principal may grant to the State, notice of which extension(s) to the Surety being hereby waived; provided that such waiver of notice shall apply only with respect to extensions aggregating not more than ninety (90) calendar days in addition to the period originally allowed for acceptance of the bid. Individual Principal
In Presence of:
Witness
(Name) as to (SEAL)
Partnership Principal
In Presence of:
Witness
(Name) as to (SEAL) Partner as to (SEAL) Partner as to (SEAL) Partner
Corporate Principal
Bid Bond Page-2 effective date: May 1, 2018
Attest: (Name of Corporation) AFFIX
SEAL
By:
Secretary President
Attest: (Surety)
By:
Attorney-in-fact AFFIX
SEAL
Bonding Agent’s Name
Agent’s Address:
Approved as to form and legal sufficiency this ____ day of _____ 20___
Assistant Attorney General
Bid Bond
File details come from the government source that posted it. Updated .