C250017_Payment_Bond.pdf
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- Solicitation number
- 250017
- Issued by
- Orange County, California
About this file
This is a Payment Bond document for Invitation for Bid (IFB) 270017 issued by the Orange County Transportation Authority in California for facility modifications at the Santa Ana Bus Base Operations Building. The payment bond serves as a required security instrument that binds the contractor and surety to ensure payment of all laborers, material suppliers, and other persons entitled to payment under California Civil Code Section 9100 for work performed on the project. The bond guarantees that the contractor and any subcontractors will pay all amounts due under the Unemployment Insurance Code and remit required payroll deductions to the Employment Development Department. The bond document is formatted as an exhibit to the IFB and includes signature blocks for the contractor principal, surety company representative, and approval authority, with designated spaces for the bond amount, effective date, and contract reference information.
The payment bond amount is to be determined based on the total contract value and is not specified in this template document. The bond is subject to all provisions of Title 3 of Part 64 of Division 4 of the California Civil Code relating to public works payment bonds, specifically Civil Code Sections 8150-8154 and Sections 9550-9566. The surety's obligation remains in full force regardless of any changes to the scope of work, modifications to materials or services, or time extensions granted during contract performance. In the event of contractor or subcontractor non-payment, the surety is liable for the unpaid amounts up to the bond limit, plus reasonable attorney's fees as determined by the court. This bond protects all workers and suppliers involved in the project by providing a direct claim mechanism against the surety for unpaid wages and material costs.
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Text version
IFB 270017
EXHIBIT F
PAYMENT BOND
KNOW ALL MEN BY THESE PRESENTS:
That we, ______________________________________________________________ hereinafter referred to as "Contractor", as principal, and _________________________ as surety, are held and firmly bound unto the Orange County Transportation Authority, State of California, in the sum ______________________________________________ Dollars, ($_____________________), lawful money of the United States of America, for the payment of which sum, well and truly to be made, we bind ourselves, jointly and severally, firmly by these presents.
The Condition of the foregoing obligation is such that, WHEREAS, said Contractor has been awarded and is about to enter into the annexed Agreement with the ORANGE COUNTY TRANSPORTATION AUTHORITY for the IFB
270017, “FACILITY MODIFICATIONS AT SANTA ANA BUS BASE OPERATIONS
BUILDING,” as specified in said Agreement, which is incorporated herein to this bond by reference, and is required under the terms of said Agreement to give this bond in connection with the execution thereof;
NOW, THEREFORE, if said Contractor or a subcontractor fails to pay any of the persons named in Section 9100 of the Civil Code of the State of California, or amounts due under the Unemployment Insurance Code with respect to work or labor performed under the contract, or for any amounts required to be deducted, withheld and paid over to the Employment Development Department from the wages of employees of said Contractor and subcontractors pursuant to Section 13020 of the Unemployment Insurance Code with respect to such work and labor, then said surety will pay for the same, in an amount not exceeding the sum specified in this bond, and also, in case suit is brought upon this bond, a reasonable attorney's fee, to be fixed by the court. This bond shall inure to the benefit of all persons named in Section 9100 of the Civil Code of the State of California so as to give a right of action to such persons or their assigns in any suit brought upon this bond. This bond shall be subject to and include all of the provisions of Title 3 of Part 64 of Division 4 of the Civil Code of California relating to Payment Bond for Public Works, including but not confined to, Civil Code Sections 8150 – 8154, inclusive and Sections 9550 - 9566, inclusive.
PROVIDED, that any changes in the work to be done or the material to be furnished, whether or not made pursuant to the terms of said contract, shall not in any way release either the Contractor or the surety thereunder, nor shall any extensions of time granted under the provisions of said contract release either the Contractor or the surety, and notice of such alterations or extensions of the contract is hereby waived by the surety.
IFB 270017
EXHIBIT F
PAYMENT BOND, PAGE 2
WITNESS our hands this ___________________ day of _______________, 202_.
(SEAL) ________________________________
(Contractor)
By _____________________________
(Title)
Approved: ________________________________ (Surety)
_____________________________ By _____________________________
(SEAL)
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