Bid_Bond_v2.doc
DOC document 44 KB Posted
- Attached to
- Juvenile Detention Façade Replacement
- Solicitation number
- 2025-230
- Issued by
- Collin County, Texas
About this file
The document is a Bid Bond for Collin County, Texas, specifically for Invitation for Bid (IFB) 2025-230 Juvenile Detention Facade Replacement. The project involves replacing the facade of the Collin County Juvenile Detention Center Addition, with an estimated probable construction cost of $150,000. The bid bond serves as a financial guarantee that if the principal contractor is awarded the contract, they will enter into the contract and provide required performance bonds.
The bid bond indicates that the project is a fixed-price contract with a defined scope of work for facade replacement. The bond provides financial protection for the county, ensuring that if the selected contractor fails to execute the contract or provide required performance bonds, the surety will pay liquidated damages to the owner. The bond specifies that any legal actions must be filed in the county's jurisdiction, and requires a certified power of attorney to be attached to the document.
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Text version
004313 BID BOND
STATE OF TEXAS
COUNTY OF COLLIN
KNOW ALL MEN BY THESE PRESENTS:
THAT
, a corporation organized and existing under the laws of the State of
, and fully authorized to transact business in the State of Texas, whose address is of the City of
County of
, and State of
,(hereinafter referred to as “Principal”), and
(hereinafter referred to as “Surety”, a corporation organized under the laws of the State of and authorized under the laws of the State of Texas to act as surety on bonds for principals, are held and firmly bound unto
(hereinafter referred to as “Owner”) and unto all persons, firms and corporations who may furnish materials for or perform labor upon the buildings, structures or improvements referred to in the attached Contract, , in the penal sum of
Dollars ($
) in lawful money of the United States, for the payment whereof, the said Principal and Surety bind themselves, and their heirs, administrators, executors, successors, and assigns, jointly and severally, firmly by these presents:
SIGNED, SEALED and DATED this day of
WHEREAS, the Principal is herewith submitting its proposal for IFB 2025-230 Juvenile Detention Façade Replacement.
The condition of the above obligations are such that if the aforesaid Principal shall be awarded the Contract, the said Principal will, within the time required, enter into a Contract and give Bonds, if required, for the faithful performance of the Contract and the prompt payment for labor and materials in the prosecution thereof, then this obligation shall be null and void; otherwise the Principal and Surety will pay unto the OWNER the full penal sum hereof, as liquidated damages, it being difficult and impractical to determine accurately the actual amount of damages occurring to OWNER by reason of Principal’s failure to execute said Contract and Bonds.
PROVIDED FURTHER, that if any legal action be filed on this Bond, venue shall lie in
County, Texas.
The Resident Agent of the Surety for delivery of notice and service of process is:
Name:
Address:
Phone Number:
WITNESS
PRINCIPAL
Printed/Typed Name
Title:
Company:
WITNESS
SURETY
Printed/Typed Name
Title:
Company:
NOTE: CERTIFIED COPY OF POWER-OF-ATTORNEY SHOULD BE ATTACHED HERETO.
Revised 11/2008
File details come from the government source that posted it. Updated .