Bid Bond - Limited Liability Company.pdf
PDF 91 KB Posted
- Attached to
- CC-622-230-001
- Solicitation number
- BPM057964
- Issued by
- Maryland
About this file
This is a Bid Bond form for a Limited Liability Company related to the BCCC Life Science Building Restroom renovation project (Contract CC-622-230-001) in Maryland. The bid bond document establishes the surety requirements and bonding procedures that qualified bidders must follow when submitting proposals for this state construction project. The form outlines the obligations of the bidder, the surety company, and the obligee (Baltimore City Community College or relevant Maryland state entity) in establishing financial security for bid submission. This bond serves as a guarantee that the bidder will enter into a contract if selected and will provide the required performance and payment bonds upon award.
The bid bond specifies the penal sum amount that the surety company pledges as security, ensuring the bidder's good faith participation in the procurement process. The document includes standard bonding language regarding the surety's liability, conditions for forfeiture, and release provisions. For Limited Liability Company bidders, the form requires appropriate authorization signatures and documentation of the LLC's authority to execute the bond. The bond remains in effect until the specified expiration date or upon release by the obligee, and any claims against the bond must be submitted in accordance with the terms outlined in the document.
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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: CC-622-230-001 Life Sciences Restroom Renovations at Baltimore City Community College
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 (Managing Member of LLC)
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
Bid Bond Page-2 effective date: May 1, 2018
Corporate Principal
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 .