Bid Bond - Limited Liabiliy Company.pdf
PDF 232 KB Posted
- Solicitation number
- BPM058019
- Issued by
- Prince George's County, Maryland
About this file
This is a Bid Bond form for the State of Maryland, specifically for project VC-001-260-003, the Cheltenham Veterans Cemetery Replace Entrance and Exit Roadway project. The contract work is located at Cheltenham Veterans Cemetery, 11301 Crain Highway, Cheltenham, Prince Georges County, Maryland 20623. The scope of work requires the contractor to furnish all labor, materials, equipment, and incidental services necessary to complete asphalt roadway replacement, including removing and cutting into the existing asphalt road surface, milling as required, and installing replacement asphalt roadway to existing grades. The bid bond establishes a bidding timeline with acceptance by the State required within ninety (90) days if no other period is specified, and contractual document execution and bond provision required within ten (10) days of receiving forms if no other period is specified.
The bid bond document serves as a guarantee that the bidding Principal will execute any required contractual documents and provide necessary bonds upon bid acceptance by the State. The Surety agrees to remain obligated even if the State extends the bid acceptance period by up to ninety (90) additional calendar days beyond the original acceptance period, with notice to the Surety waived for such extensions. Should the Principal fail to execute required contractual documents or provide bonds, the Surety guarantees payment to the State of the difference between the Principal's bid amount and any larger amount the State must pay to contract with another party to perform the work, up to the penalty amount specified on the bond. The form accommodates multiple principal structures, including individual managing members of limited liability companies, partnerships, and corporate principals.
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Text version
Bid Bond Page-1 effective date: May 1, 2018
Bid Bond
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
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):
VC-001-260-003 - Cheltenham Veterans Cemetery Replace Entrance and Exit Roadway
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.
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
File details come from the government source that posted it. Updated .