Bid Bond - Limited Liability Company.pdf
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- Solicitation number
- BPM058790
- Issued by
- Baltimore City, Maryland
About this file
This is a Bid Bond form for the State of Maryland related to contract M-341-230-002A (IQC), a rebid project to replace the steam boiler header pipework at the Maryland Military Department's Fifth Regiment Armory located at 219 29th Street, Baltimore, MD 21201. The project scope includes replacement of the existing steam pipework header system, addition of two steam valves to the existing boiler steam supply, replacement of damaged pipework and insulation in floor and wall chases, steam traps, automatic air relief vents, radiator control valves, steam line expansion compensators, and insulation using unit pricing. The Principal is required to execute further contractual documents and provide required bonds within ten (10) days of receiving forms, if no other period is specified, or within the time period established in the bid documents. The State allows ninety (90) days for bid acceptance unless otherwise specified in the bid solicitation.
The Bid Bond obligates the Principal and Surety jointly and severally to the State of Maryland for the penalty amount specified in the bond. If the Principal fails to execute contractual documents and provide required bonds within the specified timeframe, the Surety agrees to pay the State the difference between the Principal's bid amount and any higher amount the State must pay to contract with another party, not to exceed the bond penalty. The Surety's obligation remains valid even if the State extends the bid acceptance period by up to ninety (90) additional calendar days without notice to the Surety. The bond form is effective as of May 1, 2018 and requires approval by the Assistant Attorney General as to form and 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:
M-341-230-002A (IQC) Rebid Replace Steam Boiler Header Pipework at the Maryland Military Department – Fifth Regiment Armory
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)
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 .