Exhibit J Performance and Payment Bonds.pdf

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Attached to
Sylvan Road North Sidewalk
Solicitation number
ITB 2026-1898
Issued by
Fulton County, Georgia

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This document is Exhibit "J" from the City of East Point, Georgia, detailing requirements for Performance and Payment Bonds for a municipal contract. The exhibit mandates that the Contractor must provide two separate bonds to the Owner, each with a penal sum equal to 100% of the Contract Price. The bonds must incorporate all contract terms by reference and will automatically adjust in value if the Contract Price changes through a City Council-approved Change Order.

The bonds must be executed by a surety or sureties that are deemed reasonably suitable to the Owner, and they must be in a form acceptable to the City of East Point. The requirement ensures financial protection for the municipality by guaranteeing the contractor's performance and ensuring payment to subcontractors and suppliers. The bonds are tied directly to the Procurement Code of the City of East Point and provide a mechanism for financial recourse in case of contractor default or non-performance.

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Exhibit “J”

Performance and Payment Bonds

The Contractor shall furnish separate performance and payment bonds to the Owner.

1. Each bond shall set forth a penal sum in an amount not less than one hundred percent (100%) of the Contract Price.

2. Each bond furnished by the Contractor shall incorporate by reference the terms of this Contract as fully as though they were set forth verbatim in such bonds.

3. In the event the Contract Price is adjusted by Change Order executed by the Contractor, approved by City Council, entered on the minutes, and in accordance with The Procurement Code of The City of East Point, the penal sum of both the performance bond and the payment bond shall be deemed increased by like amount.

4. The performance and payment bonds furnished by the Contractor shall be in a form suitable to the Owner and shall be executed by a surety, or sureties, reasonably suitable to the Owner.

File details come from the government source that posted it. Updated .