IDOT Performance Bond.pdf

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Attached to
FY22 D1 Rodenburg Maint CIF AST storage tank REBID
Solicitation number
22-494DOT-FINAD-B-27622
Issued by
Cook County, Illinois

About this file

This document is a Performance Bond for the Illinois Department of Transportation (IDOT). The Performance Bond binds the Principal and Surety to the People of the State of Illinois to ensure the Principal completes the construction work designated in their written contract with IDOT. The bond is required to provide specific assurance that the Principal will faithfully perform the responsibilities under the contract until the work is accepted.

The related state and local contract opportunity is for the removal and purchase of an above ground storage tank in FY22 for IDOT's District 1 Rodenburg Maintenance facility. The contract is being re-bid, and pursuant to state policy, IDOT will only accept electronic submissions for this competitive solicitation. No paper responses will be accepted.

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S:\Gen\Document Services\Forms Support\AEM Forms\DOTLOGO2.bmp Illinois Department of Transportation Performance Bond BC 1241 (Rev. 08/21/20) Know all men by these presents, that we, a Corporation organized under the laws of the State of , and licensed to do business in the State of Illinois, as Principal, and a corporation organized and existing under the laws of the State of with authority to do business in the State of Illinois, as Surety, are held and firmly bound unto the People of the State of Illinois in the penal sum of Dollars lawful money of the United States, well and truly to be paid unto said People of the State of Illinois, for the payment of which we bind ourselves, our successors and assigns, jointly, severally and firmly by these presents.

The condition of the foregoing obligation is such that whereas, the said Principal has entered into a written contract with the State of Illinois acting through the Department of Transportation, for the construction of the work designated as , which requires specific assurance of performance of Placed under said contract more fully described in said contract, which by this reference is made a part hereof as if written herein at length, the said Principal has promised and agreed to perform said described responsibilities in accordance with the terms and conditions of said contract.

Now therefore, if the said Principal shall well and truly perform said work in accordance with the terms of said contract, until the said work shall have been accepted, and shall hold the People of the State of Illinois and the said Department of Transportation harmless on account of any damages, and shall in all respects fully and faithfully comply with all provisions, conditions and requirements of said contract, then this obligation shall be void; otherwise it shall remain in full force and effect.

In witness whereof, we have duly executed the foregoing This day of Illinois Department of Transportation 11.0.0.20130303.1.892433.887364

BC 1241

Bureau of Construction Performance Bond

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