Exhibit 3 - Bid Bond.pdf
PDF 119 KB Posted
- Attached to
- Erosion Repairs for Airport Package 2
- Solicitation number
- B25-090CA
- Issued by
- Colorado
About this file
Exhibit 3 is a bid bond template required by the City of Colorado Springs, Colorado for contract bidding purposes. This document serves as a financial guarantee that binds the bidder (Principal) and a surety company to the City of Colorado Springs (Obligee). The bid bond ensures that if a bidder's proposal is accepted and they are awarded the contract in whole or in part, the bidder will execute the contract in accordance with the bid terms and provide the required Payment, Performance, and Maintenance bonds. If the bidder fails to enter into the contract or provide the necessary bonds, the bidder must pay the bond amount to the City. The bond must be signed and sealed by authorized representatives of both the Principal and the Surety, with a witness present for each party.
The bid bond amount is specified in the contract documents and must be submitted in both words and dollar figures. The Surety must be a corporation authorized to conduct business in the State of Colorado. The document includes a checkbox to indicate whether the bond is SBA-guaranteed or not. The bond remains in full force and effect unless the conditions outlined in Section 3 are satisfied, at which point the obligation becomes null and void. This bond template is a standard requirement in the City of Colorado Springs' bidding process to protect the City's interests and ensure bidder performance.
View the file
Other files
| File | Type | Posted |
|---|---|---|
| Exhibit 2 - Qualifications Documents ADA Version.pdf | ||
| Schedule A - Bid Form B25-090CA.xlsx | XLSX spreadsheet | |
| Exhibit 4 - Federal Forms ADA Version.pdf | ||
| B25-090CA Erosion Repairs Package 2 FINAL ADA Version.pdf |
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Text version
EXHIBIT 3 – CITY OF COLORADO SPRINGS BID BOND
1. KNOW ALL MEN BY THESE PRESENTS, THAT:
(Name)
As Principal, hereinafter called Principal, and
(Address)
(SURETY Name) a corporation organized and existing under the laws of the State of:
(SURETY Address) and AUTHORIZED TO DO BUSINESS IN THE STATE OF COLORADO, as Surety, hereinafter called Surety, are held firmly bound to the CITY OF COLORADO SPRINGS, COLORADO, as Obligee, hereinafter called the Obligee, in the sum of: (Insert Bid Amount in Words)
($ DOLLARS),
lawful money of the United States of America, for payment of which sum well and truly to be made, the Principal and the Surety bind themselves, their heirs, executors, successors, and assigns, jointly and severally, firmly by these presents.
2. WHEREAS, the Principal has submitted to the Obligee, a contract bid dated the day of For the following contract:
3. NOW THEREFORE, THE CONDITION OF THIS OBLIGATION IS SUCH THAT, If the Principals bid is accepted by the Obligee and the Principal is awarded the contract in whole or in part, and the Principal shall enter into the contract with the Obligee in accordance with the terms of such bid, and give such Payment, Performance, and Maintenance bond or bonds as may be specified in the bidding or 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, or in the event of the failure of the Principal to enter such contract and give such bond or bonds, if the Principal shall promptly pay to the Obligee the amount of this bond as set forth herein above, then this obligation shall be null and void, otherwise this obligation to remain in full force and effect.
Signed and sealed on the dates set forth below:
FOR:
(Witness) (Principals Name)
BY:
ITS:
(Seal) This day of
FOR:
(Witness) (Surety's Name)
BY:
ITS:
(Seal) This Day of
Bond # This Bond __(is) __ (is not) a SBA Guaranteed Bond.
File details come from the government source that posted it. Updated .