Consent_of_Surety.docx
DOCX document 4 MB Posted
- Solicitation number
- 26-06
- Issued by
- Walton County, Florida
About this file
This is a Consent of Surety document for Walton County, Florida, a political subdivision of the State of Florida, establishing bonding requirements for a contractor bidding on a project involving on-site concrete crushing and processing services at the Walton County Landfill. The contractor must complete all crushing and processing work within a maximum of 120 calendar days from the Notice to Proceed, unless the County extends the timeline due to weather, equipment failure, or site-access limitations. The successful bidder is required to provide Performance and Payment Bonds equal to 100 percent of the total contract price as specified in the solicitation documents.
The Surety Company executing this consent must be organized under the laws of an applicable state and authorized to conduct business as a surety in Florida. The Surety certifies that it is currently listed on the U.S. Treasury Department Circular 570 and maintains an A.M. Best Rating of A- Class VII or better. This consent is contingent upon the County entering into a formal written contract with the Principal (contractor) and the Principal executing the contract within the timeframe specified in the solicitation. A Power of Attorney document authorizing the specific individual signing on behalf of the insurance company must be attached to the Consent of Surety.
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Text version
CONSENT OF SURETY
Project Name: [Name of Project/Contract] Project Number: [Solicitation or Reference Number] Obligee (Owner): Walton County, Florida, a political subdivision of the State of Florida WHEREAS, [Name of Contractor] (hereinafter referred to as the "Principal") has submitted a proposal or bid for the project described above; and WHEREAS, the Obligee requires that the successful bidder provide evidence of their ability to secure Performance and Payment Bonds in an amount equal to one hundred percent (100%) of the total contract price.
NOW, THEREFORE, [Name of Surety Company] (hereinafter referred to as the "Surety"), a corporation organized and existing under the laws of the State of [State] and authorized to transact business as a surety in the State of Florida, does hereby represent and agree as follows:
1. Agreement to Bond: Should the Obligee award the contract for the aforementioned project to the Principal, the Surety agrees to execute and deliver the required Performance and Payment Bonds as specified in the solicitation documents.
2. Bond Amounts: Said bonds shall be in an amount equal to $________________ and shall be conditioned upon the faithful performance of the contract and the payment of all persons supplying labor and materials for the project.
3. Conditions: This consent is subject to the Obligee entering into a formal written contract with the Principal and the Principal executing said contract within the timeframe required by the solicitation.
4. Surety Qualifications: The Surety certifies that it is currently listed on the U.S. Treasury Department Circular 570 and possesses an A.M. Best Rating of A- Class VII or better.
IN WITNESS WHEREOF, the Surety has caused this instrument to be signed by its authorized Attorney-in-Fact and its corporate seal to be affixed this ____ day of ___________, 20___.
SURETY COMPANY:
(Signature of Attorney-in-Fact) [Printed Name of Attorney-in-Fact] [Affix Corporate Seal Here]
A Power of Attorney document authorizing the specific individual signing on behalf of the insurance company must be attached to this Consent of Surety.
File details come from the government source that posted it. Updated .