Bid Bond - Instructions.pdf

Bid Bond Page-1 effective date: May 1, 2018

Bid Bond

Bond No. Usually left blank – bid bonds generally don’t receive a bond number. Bond numbers are issued at the performance and payment bond level.

We, Legal Name of Company as Principal, hereinafter called the Principal, and Name of Surety, a corporation duly organized under the laws of the State of Surety Company’s State as Surety, hereinafter called the Surety, are held and firmly bound unto the State of Maryland, hereinafter called "State", for the sum of AT LEAST FIVE PERCENT OF TOTAL AMOUNT OF BID (5%) 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):

Project Number, Project Description (Best practice is the procurement officer adds this information prior to attaching to the eMMA solicitation)

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.

Firm should complete which section is applicable (Individual Principal, Partnership

Principal or Corporate Principal) with Name of Corporation, President’s Signature, Witness/Attest, and Seal.

Individual Principal

In Presence of:

Witness

(Name) as to (SEAL)

Partnership Principal

In Presence of:

Witness

(Name) as to (SEAL)

Partner

Bid Bond Page-2 effective date: May 1, 2018

Corporate Principal

Attest: (Name of Corporation) AFFIX

SEAL

By:

Secretary President

Surety’s Name

Attest: (Surety)

Surety’s Witness Signature By: Surety’s Attorney Signature

Attorney-in-fact Printed Attorney’s Name

AFFIX SEAL

Bonding Agent’s Name Bonding Agent’s Name

Agent’s Address: Bonding Agent’s Address

Approved as to form and legal sufficiency this ____ day of _____

20___

COMPLETED BY DGS’

ASSISTANT ATTORNEY

GENERAL.

Assistant Attorney General

ENSURE ORIGINAL HAS THE CORPORATION’S SEAL AND THE SURETY’S SEAL.

FOR INDIVIDUAL PRINCIPALS AND PARTNERSHIP PRINCIPALS, THIS CAN BE

ACCOMPLISHED BY LEAVING “(SEAL)” AS IS OR BY WRITING “SEAL” AFTER A

SIGNER’S NAME.

ORIGINAL MUST HAVE AN ORIGINAL POWER OF ATTORNEY ATTACHED.