Ex 1 part 1 STANDARD PERFORMANCE BOND FOR CONSTRUCTION CONTRACTS (002).pdf
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- Attached to
- IFB 2025-01 Gym Roof Replacement
- Solicitation number
- 72099
- Issued by
- Fluvanna County, Virginia
About this file
This document is a Standard Performance Bond for Construction Contracts between the Principal (the Contractor) and the Surety, for the benefit of the Obligee (the County of Fluvanna, Virginia). The bond is required for a construction contract where the Principal will provide labor and materials to repair the roof at the Carysbrook Gym in Fluvanna County, Virginia. The bond amount is for an unspecified dollar value. The bond remains in effect until the completion of the contract and any associated work, including warranties and guarantees. Any alterations to the contract terms do not release the Principal and Surety from their obligations under the bond.
The contract opportunity is an Invitation for Bids (IFB 2025-01) issued by Fluvanna County, Virginia for the gym roof replacement project. The county is seeking competitive sealed bids from qualified, licensed contractors to establish a firm fixed price contract for the necessary labor and materials. The project details, timeline, and other requirements are not specified in this performance bond document.
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Text version
STANDARD PERFORMANCE BOND FOR CONSTRUCTION CONTRACTS
KNOW ALL MEN BY THESE PRESENT:
That , ________________________________the Contractor (“Principal”) whose principal place of business is located at ___________________________________________ and ______________________________________________ (“Surety”) are held and firmly bound unto the County of Fluvanna, Virginia, the Owner (“Obligee”) in the amount of Dollars ($ _____________________________________), for the payment whereof Principal and Surety bind themselves, their heirs, executors, administrators, successors and assigns, jointly and severally, firmly by these presents.
WHEREAS, Principal has by written agreement dated the ___ day of _________________, 20__ entered into a contract with Obligee for which contract (the “Contract”) is by reference expressly made a part hereof;
NOW THEREFORE, THE CONDITION OF THIS OBLIGATION is such that, if the Principal shall promptly and faithfully perform said Contract in strict conformity with the plans, specifications and conditions of the Contract, then this obligation shall be null and void; otherwise it shall remain in full force and effect.
Provided, that any alterations which may be made in the terms of the Contract, or in the Work to be done under it, or the giving by the Obligee of any extension of the time for the performance of the Contract, or any other alterations, extensions or forbearance on the part of either or both of the Obligee or the Principal to the other shall not in any way release the Principal and the Surety, or either of them, their heirs, executors, administrators, successors or assigns from their liability hereunder, notice to the Surety of any such alterations, extension, or forbearance being hereby waived.
No action shall be brought on this bond unless brought within one year after: (a) completion of the Contract and all Work thereunder, including expiration of all warranties and guarantees, or
(b) discovery of the defect or breach of warranty or guarantee if the action be for such. The Surety represents to the Principal and to the Obligee that it is legally authorized to do business in the Commonwealth of Virginia. Exclusive venue and jurisdiction for any dispute arising hereunder shall be in the courts of the County of Fluvanna, Virginia.
Signed and sealed this ___ day of _________________, 20__ .
Principal Surety (must be signed by a Virginia Resident Agent of Surety)
By:_________________________ By:_________________________
Title:________________________ Title:________________________
Date:________________________ Date:________________________
Address: _____________________
Approved as to form: _____________________________
_____________________________ Bond No.: ______________________
Fluvanna County Attorney
File details come from the government source that posted it. Updated .