Bid Security Form.pdf
PDF 131 KB Posted
- Attached to
- Stormwater Filter
- Solicitation number
- S-24800-00014530
- Issued by
- Multnomah County, Oregon
About this file
This document is a State of Oregon Bid Security Form from the Oregon Military Department for Invitation to Bid (ITB) #S-24800-00014530, specifically related to a stormwater filter project. The form serves as a bid bond requiring the Principal (bidding company) to provide security equal to ten percent of their total bid amount, as mandated by Oregon Revised Statutes 279C.365 and 279C.400. The bond ensures that if the bid is accepted and a contract is awarded, the Principal will execute the contract, provide performance and payment bonds, and submit required insurance documentation within the timeframes specified by the Obligee (State of Oregon).
The bid security form is a standard legal document that protects the State of Oregon's interests during the procurement process for the stormwater filter project. By executing this bond, the Principal and Surety (bonding company) jointly commit to financial accountability, with the bond remaining in full force unless all contract conditions are met. The form includes spaces for the Principal and Surety to provide their corporate details, signatures, and contact information, demonstrating their commitment to the bidding process and potential contract execution.
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Text version
DOJ Approved 3-20-25 Version ITB #S-24800-00014530 Page 23 of 59
CUI
CUI
State of Oregon – Oregon Military Department Invitation to Bid
EXHIBIT 3
State of Oregon Bid Security Form
We, , as “Principal,” (Name of Principal) and , an Corporation, (Name of Surety) authorized to transact Surety business in Oregon, as “Surety,” hereby jointly and severally bind ourselves, our respective heirs, executors, administrators, successors, and assigns to pay unto the State of Oregon (“Obligee”) the sum of ($ ) dollars.
WHEREAS, the condition of the obligation of this bond is that Principal has submitted its proposal or bid to an agency of the Obligee in response to Obligee’s procurement document (No. C-25-010) for the project identified as: Stormwater filter which proposal or bid is made a part of this bond by reference, and Principal is required to furnish bid security in an amount equal to ten (10%) percent of the total amount of the bid pursuant to the procurement document and ORS 279C.365 (4) for competitive bidding or 279C.400 (5) for competitive proposals.
NOW, THEREFORE, if the proposal or bid submitted by Principal is accepted, and if a contract pursuant to the proposal or bid is awarded to Principal, and if Principal enters into and executes such contract within the time specified in the procurement document and executes and delivers to Obligee its good and sufficient performance and payment bonds required by Obligee, as well as any required proof of insurance, within the time fixed by Obligee, then this obligation shall be void; otherwise shall remain in full force and effect.
IN WITNESS WHEREOF, we have caused this instrument to be executed and sealed by out duly authorized legal representatives this day of , 20___.
PRINCIPAL: SURETY:
By:
(signature)
BY ATTORNEY-IN-FACT:
(Official Capacity)
Name
Attest:
(Corporation Secretary)
Signature
Address
City State Zip
Phone Fax
File details come from the government source that posted it. Updated .