BID_FORM_8J_Bid_Bond.pdf
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- Solicitation number
- 25-ITB-010
- Issued by
- Volusia County, Florida
About this file
This document is a Bid Bond form for the City of South Daytona, Florida, specifically for the South Daytona Piggotte Community Center Monument Sign project, identified as Bid No. 24-B-001. The bid bond serves as a financial guarantee that if the bid is accepted, the principal (bidder) will execute the contract within ten days of notification and provide a satisfactory contract bond payable to the city.
The bid bond requires the principal and surety to be jointly and severally bound to the City of South Daytona for a specified monetary amount. If the bidder fails to comply with the contract requirements, the surety must immediately pay the city the bond amount as liquidated damages, not as a penalty. The form is a standard legal document that protects the city's interests by ensuring the selected contractor follows through on their bid commitment and contract execution.
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Text version
THIS FORMMUST BE COMPLETED AND RETURNEDWITH YOUR BID.
BID FORM 8J:
Bid Bond
KNOWALL MEN BY THESE PRESENTS, that we __________________________________________________________
(hereinafter called the Principal) and ________________________________________________________________________
(hereinafter called the Surety) are held and firmly bound unto the City of South Daytona, Florida
(hereinafter called the Owner) in the sum of _______________________________________________________ Dollars
($________________) lawful money of the United States of America, for the payment of which sum well and truly to be made, we bind ourselves, our heirs, executors, administrators, and successors, jointly and severally, firmly by these presents:
WHEREAS, the Principal contemplates submitting or has submitted a bid to the City of South Daytona, Florida, for
South Daytona Piggotte Community Center Monument Sign
BID NO. 24-B-001
WHEREAS, the Principal desires to file this bond in accordance with the law, in lieu of a certified or cashier’s check otherwise required to accompany this Bid.
NOW, THEREFORE: the conditions of this obligation are such that if the Bid be accepted the Principal shall within ten (10) days after the receipt of notification of the acceptance thereof execute a contract in accordance with the Bid and upon the terms, conditions and unit or lump sum prices set forth therein, in the form and manner required by the City, and execute a sufficient and satisfactory Contract Bond payable to the City, in an amount not less than the total contract price, as indicated by the approximate quantities shown in the Bid, in form and with security satisfactory to the said City, then this obligation be void; otherwise to be and remain in full force and virtue in law; and the Surety shall upon the failure of the Principal to comply with any or all of the foregoing requirements within the time specified above, immediately pay to the aforesaid City upon demand the amount hereof in good and lawful money of the United States of America, not as a penalty, but as liquidated damages.
IN TESTIMONY WHEREOF, the Principal and Surety have caused these presents to be duly signed and sealed this ________ day of ____________________________, 20_______.
(Principal)
By: _________________________________________
ATTEST: _________________________________________
(Surety)
_________________________ By: _________________________________________ Seal
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