C54261_Exh_F_PaymentBond.pdf
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- Attached to
- Bus Hoist Replacement at Anaheim Bus Base
- Solicitation number
- 5-4261
- Issued by
- Orange County, California
About this file
This is a Payment Bond document required by the Orange County Transportation Authority (OCTA) in California for IFB 5-4261, related to the replacement of mechanical units at the Santa Ana Bus Base. The bond serves as a guarantee that the selected contractor will fulfill payment obligations to laborers, subcontractors, and suppliers involved in the project. The contractor must obtain surety bonding in an amount to be specified in the final contract agreement, with the bond remaining in effect for the duration of the project regardless of any changes to the work scope, materials, or timeline extensions.
The payment bond protects all persons entitled to payment under California Civil Code Section 9100 and ensures compliance with state unemployment insurance requirements. The bond amount will be established based on the contract value, and the surety agrees to pay any unpaid wages, fringe benefits, and other compensation owed to workers, with liability extending to reasonable attorney's fees if legal action becomes necessary. The bond is subject to California Civil Code Sections 8150-8154 and 9550-9566, which govern payment bonds for public works projects. The contractor and surety must jointly and severally execute the bond prior to commencing work on the $400,000 project scheduled for 240 calendar days at the OCTA Anaheim Bus Base.
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Text version
IFB 5-4261
EXHIBIT F
PAYMENT BOND
KNOW ALL MEN BY THESE PRESENTS:
That we, _____________________________________________________________ hereinafter referred to as "Contractor", as principal, and _________________________ as surety, are held and firmly bound unto the Orange County Transportation Authority, State of California, in the sum _____________________________________________ Dollars, ($_____________________), 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 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 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 5-4261
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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