FAITHFUL_PERFORMANCE_BOND_FORM.pdf
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- Solicitation number
- 2023-IFB-LM-806
- Issued by
- Los Angeles County, California
About this file
This document is a Faithful Performance Bond form for the City of Pasadena, California, designed to provide financial security for a contract between the city and a principal contractor. The form is a legal instrument that ensures the contractor will complete the specified work (in this case, the WiFi Access Point Installation for Career Services) according to the contract terms. The bond covers the contractor's obligation to furnish all necessary labor, materials, equipment, transportation, and services for the project, which involves installing WiFi access points, network cabling, and a PoE switch in a 15,205 square foot, single-story building.
The bond is structured to protect the City of Pasadena by holding the principal and surety financially responsible for the faithful performance of the contract. If the contractor fails to complete the work as agreed, the surety will be liable for the full contract amount. The bond also includes provisions that any alterations to the work or contract extensions will not release the principal or surety from their obligations, providing additional security for the city. The form requires signatures from the principal, surety, city clerk, and city attorney, indicating a comprehensive review and approval process for the contract and performance guarantee.
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Text version
FAITHFUL PERFORMANCE BOND
KNOW ALL MEN BY THESE PRESENTS:
THAT ____________________________________________ , as principal, and as surety, are held and firmly bound unto the City of Pasadena, a municipal corporation, in the just and full amount of
(words and figures) for the payment whereof we hereby bind ourselves, our heirs, executors, administrators, successors and assigns, jointly and severally, firmly by these presents.
Given under our hands and sealed with our seals this day of , ________.
The condition of the foregoing obligation is such that, WHEREAS, the above-named principal is about to enter into a contract with the City of Pasadena whereby said principal agrees to furnish all labor, material, equipment, transportation and services for the_______________ in the City of Pasadena, California, as provided in said contract, which said contract is hereby referred to and made a part hereof to the same extent as if the same were herein specifically set forth;
NOW, THEREFORE, if the said principal shall well and truly do and perform all things agreed by it in said contract to be done and performed, then this obligation is to be void; otherwise to remain in full force and effect;
PROVIDED, that any alterations in the work to be done, or the material to be furnished, which may be made shall not in any way release the principal or the surety hereunder, nor shall any extensions of time granted release either the principal or the surety, and notice of such alterations or extensions of the contract is hereby waived by the surety.
WITNESS our hands this _________________ day of ____________________________ , 20___.
Principal
Dated
City Clerk
By
Assistant City Clerk
By _______________________________________________ NAME, President and
Surety
By
Approved as to Form City Attorney
By Assistant City Attorney
| as principal: |
| and: |
| words and figures: |
| Given under our hands and sealed with our seals this_2: |
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| principal agrees to furnish all labor material equipment transportation and services for the: |
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| WITNESS our hands this: |
| day of_3: |
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| Surety: |
File details come from the government source that posted it. Updated .