Bid Bond (submit with bid).pdf
PDF 130 KB Posted
- Solicitation number
- BPM043040
- Issued by
- Worcester County, Maryland
About this file
The document provided is a Bid Bond required for a state and local contract opportunity in the State of Maryland. The project involves the renovation of the Day-Use Bathhouse at Assateague State Park, located in Worcester County, Maryland. The Bid Bond binds the Principal and Surety to the State of Maryland, requiring the Principal to execute further contractual documents and provide bonds if their bid is accepted. The bond is valid for 90 days after bid submission, with the option for the State to grant up to an additional 90-day extension. Failure to execute the required documents or provide the bonds would result in the Principal paying the difference between their bid and a higher amount the State may contract with another party.
The Bid Bond does not provide any details on pricing terms, set-asides, incumbents, funding requirements, or other salient information related to the contract opportunity. The key details are focused on the bond requirements and procedures should the Principal's bid be accepted by the State of Maryland.
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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):
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
P-054-190-010 Renovate Day-Use Bathhouse at Assateague State Park
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 .