Exhibit S - Performance Bond Sample.pdf
PDF 109 KB Posted
- Solicitation number
- HHS0017150
- Issued by
- Travis County, Austin City, Texas
About this file
This is a Performance Bond Sample document for RFP No. HHS0017150, issued by the Health and Human Services Commission (HHSC), an agency of the State of Texas. The bond pertains to the Human Resources Payroll Training Learning and Leave Services contract (HHSC Contract No. HHS001715000001). The performance bond serves as a guarantee that the selected contractor will faithfully perform all work in accordance with the contract terms and specifications. The bond remains in effect throughout the contract duration, the warranty period specified in the contract documents, and for an additional thirty days following expiration of the warranty period.
The performance bond is set at a penal sum of twelve million dollars, which represents the contractor's obligation to the State of Texas. The bond amount is variable and will increase or decrease in direct correlation with any changes to the contract price. The surety agrees that the bond will not be affected by any modifications to contract terms, work scope, plans, specifications, or contract price adjustments, and waives notice of such changes. This performance bond requirement ensures financial protection for the state and guarantees contract performance regardless of contract amendments or extensions of time.
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Text version
Exhibit S - PERFORMANCE BOND SAMPLE RFP No. HHS0017150
HRPTLLS RFP
Exhibit - S Page 1 of 2
Form of Performance Bond
Project Name: Human Resources Payroll Training Learning and Leave Services
HHSC Contract No. HHS001715000001
Bond Number:
KNOW ALL MEN BY THESE PRESENTS: that as Principal (the "Principal"), and , a , as surety (the "Surety"), are held and firmly bound unto the Health and Human Services Commission, an agency of the State of Texas, as obligee (the "Obligee"), in the amount of (12) twelve million dollars for the payment whereof, the said Principal and Surety bind themselves, and their heirs, administrators, executors, successors and assigns, jointly and severally, firmly by these presents.
WHEREAS, the Principal has entered into a certain written contract with the Obligee dated the day of 20 to · (the "Contract") which contract is hereby referred to and made a part hereof as fully and to the same extent as if copied at length herein.
NOW THEREFORE, THE CONDITION OF THIS IS SUCH, that is the said Principal shall faithfully perform the work in accordance with the Contract, then this obligation shall be void; otherwise to remain in full force and effect.
PROVIDED FURTHER, the Surety, for value received, hereby stipulates and agrees that this bond will remain in full force and effect throughout the Contract and the warranty period in the Contract and contract documents, as well as for thirty (30) days after the warranty period expires.
PROVIDED FURTHER, the Surety, for value received, hereby stipulates and agrees that no change, extension of time, alteration, Contract price
Exhibit S - PERFORMANCE BOND SAMPLE RFP No. HHS0017150
HRPTLLS RFP
Exhibit - S Page 2 of 2 adjustment. deduction or addition to the terms of the Contract, or to the work to be performed thereunder, or the plans and specifications accompanying the same, shall in anywise affect its obligation on this bond, and it does hereby waive notice of any such change, extension of time, alteration, Contract price adjustment, deduction or addition, to the terms of the Contract or to the work or to the plans and specifications. The penal sum of this bond increases or decreases with any increase or decrease in the Contract Price.
IN WITNESS WHEREOF, the said Principal and Surety have signed and sealed this instrument this day of ,20
WITNESS/ ATTEST:
Principal Surety
By: Name: _ Attorney-in-Fact
Title: _________________________
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