BondBidForm.pdf

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Attached to
Addendum 01 MAXWELL #1 WELL PLUGGING
Solicitation number
CRFQ 0313 DEP1600000033 2
Issued by
Fayette County, West Virginia

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This is a Bid Bond Form issued by the State of West Virginia, Department of Administration, Purchasing Section. The document serves as a surety bond requirement for bidders submitting proposals to enter into contracts with the state. The bond obligates the principal (bidder) and surety (bonding company) to ensure that if the bid is accepted, the principal will execute the contract in accordance with the terms of the bid proposal and furnish any additional bonds or insurance required. The form requires completion of essential information including the principal's name and address, the surety's name and state of incorporation with its principal office location, the penal sum amount of the bond, and the specific contract being bid upon.

The surety's liability under the bond is limited to the penal amount stated in the document. The form explicitly permits extensions of the time for bid acceptance without impairment of the surety's obligations, and the surety waives notice of any such extensions. The surety must be licensed to transact surety insurance in West Virginia, affix its corporate seal, and provide an attached power of attorney with its seal. The principal or its authorized representative (President, Vice President, or Duly Authorized Agent) must execute the bond with appropriate seals. Execution requires the signature and seal of proper officers or, if the principal is an individual, the individual's signature and seal, dated and completed according to the form's requirements.

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Agency

REQ.P.O#

BID BOND

KNOW ALL MEN BY THESE PRESENTS, That we, the undersigned, of , , as Principal, and of , , a corporation organized and existing under the laws of the State of with its principal office in the City of , as Surety, are held and firmly bound unto the State of West Virginia, as Obligee, in the penal sum of ($ ) for the payment of which, well and truly to be made, we jointly and severally bind ourselves, our heirs, administrators, executors, successors and assigns.

The Condition of the above obligation is such that whereas the Principal has submitted to the Purchasing Section of the

Department of Administration a certain bid or proposal, attached hereto and made a part hereof, to enter into a contract in writing for

NOW THEREFORE,

(a) If said bid shall be rejected, or

(b) If said bid shall be accepted and the Principal shall enter into a contract in accordance with the bid or proposal attached hereto and shall furnish any other bonds and insurance required by the bid or proposal, and shall in all other respects perform the agreement created by the acceptance of said bid, then this obligation shall be null and void, otherwise this obligation shall remain in full force and effect. It is expressly understood and agreed that the liability of the Surety for any and all claims hereunder shall, in no event, exceed the penal amount of this obligation as herein stated.

The Surety, for the value received, hereby stipulates and agrees that the obligations of said Surety and its bond shall be in no way impaired or affected by any extension of the time within which the Obligee may accept such bid, and said Surety does hereby waive notice of any such extension.

WITNESS, the following signatures and seals of Principal and Surety, executed and sealed by a proper officer of Principal and

Surety, or by Principal individually if Principal is an individual, this day of , 20 .

Principal Seal (Name of Principal)

By

(Must be President, Vice President, or Duly Authorized Agent)

(Title)

Surety Seal (Name of Surety)

Attorney-in-Fact

IMPORTANT – Surety executing bonds must be licensed in West Virginia to transact surety insurance, must affix its seal, and must attach a power of attorney with its seal affixed.

REQPO:
undefined:
of:
undefined_2:
as Principal and:
of_2:
undefined_3:
a corporation organized and existing under the laws of the State of:
undefined_4:
with its principal office in the City of:
of West Virginia as Obligee in the penal sum of:
as Surety are held and firmly bound unto the State:
well and truly to be made we jointly and severally bind ourselves our heirs administrators executors successors and assigns:
undefined_5:
Department of Administration a certain bid or proposal attached hereto and made a part hereof to enter into a contract in writing for 1:
Department of Administration a certain bid or proposal attached hereto and made a part hereof to enter into a contract in writing for 2:
Department of Administration a certain bid or proposal attached hereto and made a part hereof to enter into a contract in writing for 3:
Surety or by Principal individually if Principal is an individual this:
20:
undefined_6:
Name of Principal:
Title:
Name of Surety:

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