C54261_Exh_E_PerformanceBond.pdf
PDF 971 KB Posted
- Attached to
- Bus Hoist Replacement at Anaheim Bus Base
- Solicitation number
- 5-4261
- Issued by
- Orange County, California
About this file
This is a Performance Bond document prepared for the Orange County Transportation Authority (OCTA) in California, serving as a financial guarantee for contractor performance on IFB 5-4261. The bond is associated with a related bus hoist replacement project at the ANAHEIM Bus Base located at 1717 E. Via Burton Avenue, Anaheim, CA 92806. The scope of work includes removing and replacing an existing bus lift, control console, and all accessories in the steam clean area, protecting surrounding concrete platforms, drainage systems, hydraulic and electrical systems, and safeguarding adjacent building structures, utilities, wall steel panels, and wall lights. The project is designated as a facility modification under OCTA Level 3 Health, Safety and Environmental Specifications with a project timeline of 240 calendar days.
The estimated project value is $400,000.00 with a Disadvantaged Business Enterprise (DBE) goal of 6%. The performance bond amount will be specified by the contractor and surety and serves as security for full performance and compliance with all contract terms and conditions. The surety assumes liability for contractor performance failures and is responsible for enforcing performance or compensating OCTA up to the bond amount, including reasonable attorneys' fees if litigation becomes necessary. The bond remains in effect regardless of any contract modifications, time extensions, or changes to the work or materials, with notice of such changes waived by the surety. All contractors must obtain and pay for required licenses and permits from relevant jurisdictions associated with project approval.
View the file
Other files
Show all 23
On GovTribe
Work with this file
- Download the original file
- Contacts named in this file
- Similar government files
- Ask GovTribe AI about this file
Text version
IFB 5-4261
EXHIBIT E
PERFORMANCE BOND
KNOW ALL MEN BY THESE PRESENTS:
That we, ________________________________________________________ hereinafter referred to as "Contractor", as principal, and _________________________ as surety, are held and firmly bound unto the Orange County Transportation Authority, State of California, in the sum ________________________________________ Dollars, ($_______________________), 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 4-2550, “REPLACEMENT OF MECHANICAL UNITS AT THE SANTA ANA BUS BASE,” 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 the said Contractor shall well and truly do and perform all of the covenants and obligations of said Agreement on his part to be done and performed at the times and in the manner specified herein, then this obligation shall be null and void, otherwise it shall be and remain in full force and effect; and in the event said Contractor fails to fully perform all requirements in accordance with the terms and conditions of said Agreement, then surety shall enforce performance by the Contractor or shall pay the Orange County Transportation Authority for the same in an amount not exceeding the amount specified in this bond; and, further, if in the event suit is brought upon this bond then said surety shall pay the Orange County Transportation Authority for reasonable attorneys' fees to be fixed by the court;
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 there under, nor shall any extensions of time granted under the provisions of said contract release either the Contractor or the surety, and notice of such changes or extensions of the contract is hereby waived by the surety.
WITNESS our hands this _________ day of ___________, 202_.
(SEAL)
(Contractor)
By
Approved:
(Title)
(SEAL) (Surety) By
File details come from the government source that posted it. Updated .