BPM007117 Exhibit 5 - Performance Bond Form 303.pdf
PDF 108 KB Posted
- Solicitation number
- BPM007117
- Issued by
- Maricopa County, Phoenix City, Arizona
About this file
This is a Statutory Performance Bond Form 303 for the Arizona Department of Health Services (ADHS) solicitation BPM007117 for Environmental Services at the Arizona State Hospital. The bond form establishes the legal framework for performance guarantees required from the selected contractor. The Principal (contractor) and Surety (bonding company) jointly and severally bind themselves to the State of Arizona (Obligee) to ensure faithful performance and fulfillment of all undertakings, covenants, terms, conditions, and agreements contained within the environmental services contract. The bond covers the original contract term and any authorized extensions, modifications, or guaranty periods required under the contract terms. The form is executed pursuant to Arizona Revised Statutes Section 41-2574 and includes provisions for recovery of reasonable attorney's fees by the prevailing party in any legal action on the bond.
The performance bond penalty amount is not specified in this form template and must not equal 100% of the contract amount, as required by A.R.S. Section 41-2574. The specific bond amount, contract commencement date, principal contractor name, and surety details are to be completed upon contract award. This form represents a standard requirement for state contract performance assurance and ensures contractor accountability for maintaining the Arizona State Hospital buildings in a clean, sanitary, and attractive condition to support a healthy environment for patients, residents, visitors, and staff.
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Text version
STATUTORY PERFORMANCE BOND
PURSUANT TO A.R.S. SECTION '41-2574
(PENALTY OF THIS BOND MUST NOT BE 100% OF THE CONTRACT AMOUNT)
SOLICITATION / RFP No. BPM007117 – Environmental Service for the Arizona State Hospital (Exhibit Five (5))
KNOW ALL MEN BY THESE PRESENTS:
THAT,
hereinafter called Principal), as Principal, and , a corporation organized and existing under the laws of the State of , with its principal office in the City of , (hereinafter called the Surety), as Surety, are held and firmly bound unto the State of Arizona, (hereinafter called the Obligee), in the amount of (Dollars), ($ ), 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.
WHEREAS, the Principal has entered into a certain contract with the Obligee, dated the day of 20 , to construct and complete a certain work described as which contract is hereby referred to and made a part hereof as fully and to the same extent as if copied at length herein.
NOW, THEREFORE, THE CONDITION OF THIS OBLIGATION IS SUCH that if the said Principal shall faithfully perform and fulfill all the undertakings, covenants, terms, conditions and agreements of said contract during the original term of said contract and any extension thereof, with or without notice to the Surety and during the life of any guaranty required under the contract shall also perform and fulfill all the undertakings, covenants, terms and conditions and agreements of any and all duly authorized modifications of said contract that may be hereafter be made, notice of which modification to the Surety being hereby waived; then the above obligation shall be void, otherwise to remain in full force and effect.
PROVIDED, HOWEVER, that this bond is executed pursuant to the provisions of A.R.S. Section §41-2574, and all liabilities on this bond shall be determined in accordance with the provisions of the Section, to the extent as if it was copied at length herein.
The prevailing party in a suit on this bond shall recover as a part of his judgment such reasonable attorney's fees as may be fixed by a judge of the Court.
Witness our hands this day of 20 .
Principal
Seal
BY:
Surety Seal
BY:
Agency of Board
DOC FORM 303
File details come from the government source that posted it. Updated .