ESBD_465682_1761602403663_Attachment G.LSCOJBW-Bid-ProposalBondForm(CSP).pdf
PDF 108 KB Posted
- Solicitation number
- 787-10202025
- Issued by
- San Saba County, Texas
About this file
This document is a Bid/Proposal Bond for the Joe Ben Welch Student Center Façade Renovation project at Lamar State College Orange, located in Orange, Texas, with the project number 787-10202025. The bond is issued to the Board of Regents of The Texas State University System as the Obligee, serving as a guarantee that represents five percent (5%) of the total proposed project cost. The bond ensures that if the Principal (bidder) is awarded the contract, they will enter into a written contract, provide required performance bonds, and promptly pay for labor and materials.
The bond includes a critical provision that if the Principal fails to execute the contract and furnish required bonds within 10 calendar days after contract document transmission, the bond will remain in full force and become the property of the Obligee as liquidated damages. Additionally, there is a notable disclosure that in the event the Surety cannot fulfill its contractual obligation, the Obligee will not be protected by an insurance guaranty fund or other solvency protection arrangement, which represents a potential financial risk for the project stakeholders.
View the file
Other files
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
Attachment 1
BID/PROPOSAL BOND
Surety Bond No.
STATE OF TEXAS §
COUNTY OF §
KNOW ALL MEN BY THESE PRESENTS:
That we, , as Principal, and
, as Surety, are hereby held and firmly bound unto The Board of Regents of The Texas State University System as Obligee in the sum of not less than
Five Percent (5%) of ($ ), the greatest possible total proposed cost, as a guarantee, the payment of which will be truly made, the said Principal and the said Surety bind ourselves, our heirs, executors, administrators, and successors, jointly and severally, firmly by these presents.
Whereas the Principal has submitted a bid or proposal for: Joe Ben Welch Student Center Façade
Renovation for Lamar State College Orange, Orange, Texas, Project No. 787-10202025 (the “Project”).
NOW THEREFORE, if the Obligee shall award the Contract to the Principal and the Principal shall enter into the Contract in writing with the Obligee in accordance with the terms of such bid or proposal, and furnish such bonds and other instruments as may be specified in the Contract Documents with good and sufficient surety for the faithful performance of such Contract and for the prompt payment of labor and material furnished in the prosecution thereof, then this bond shall be null and void. If in the event of failure of the
Principal to execute such Contract and furnish such bonds and other instruments required by the Contract
Documents within ten (10) calendar days after the date of transmittal of the Contract Documents to the Principal for execution, this bond shall remain in full force and effect and become the property of the Obligee, without recourse of the Principal and/or the Surety, not as a penalty, but as liquidated damages.
Signed this day of in the year , the name and corporate seal of each corporate party being hereto affixed, and these presents duly signed by its undersigned representative pursuant to authority of its governing body.
Principal
By: *By:
(Surety)
(Typed Name and Title) (Attorney-in-Fact)
(SURETY SEAL)
* Attach Power of Attorney for Surety’s Attorney-in-Fact with “live seal”.
DISCLOSURE OF GUARANTY FUND NONPARTICIPATION
In the event the Surety is unable to fulfill its contractual obligation under this bond, the Obligee is not protected by an insurance guaranty fund or other solvency protection arrangement.
File details come from the government source that posted it. Updated .