FAITHFUL_PERFORMANCE_BOND_FORM.pdf
PDF 58 KB Posted
- Attached to
- Secure On Site Document Shredding Services
- Solicitation number
- 2023-IFB-LM-761
- 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 guarantee contractual performance for a specific municipal service project. The bond serves as a legal instrument that binds the principal (contractor) and a surety to ensure complete and satisfactory execution of work, in this case for the On Site Document Shredding Services for the Department of Public Works. The bond covers the contractor's commitment to provide all necessary labor, materials, equipment, transportation, and services for the specified project within the City of Pasadena.
The performance bond includes provisions that the principal will fulfill all contractual obligations, with the bond remaining in full force unless all agreed-upon work is completed as specified. Key protections for the City include clauses that the surety cannot be released from obligations even if contract alterations or time extensions occur, and that any changes to the original contract terms do not nullify the bond's requirements. While specific financial amounts are left blank in this template, such bonds typically represent a percentage of the total contract value to provide financial security for the municipal entity against potential contractor default or incomplete work.
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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: |
| day of_2: |
| undefined_3: |
| principal agrees to furnish all labor material equipment transportation and services for the: |
| undefined_4: |
| WITNESS our hands this: |
| day of_3: |
| Text12: |
| undefined_5: |
| Text13: |
| and_2: |
| Dated_2: |
| Surety: |
File details come from the government source that posted it. Updated .