IFB_Forms_ATT_C_AZ_Stat_Bid_Bond.pdf
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- Attached to
- IFB - DPS K-9 Improvements (PCS-22-145)
- Solicitation number
- BPM005819
- Issued by
- Pinal County, Chandler City, Arizona
About this file
This is an Arizona Statutory Bid Bond form for the State of Arizona Department of Administration, General Services Division, related to the IFB - DPS K-9 Improvements project (PCS-22-145, Solicitation No. BPM005819). The bid bond is required as a condition of bid submission and serves as a guarantee that the bidder will enter into a contract with the State if their proposal is accepted and will provide the required performance and payment bonds as specified in the project specifications.
The bid bond penalty is set at ten percent (10%) of the submitted bid amount, as required under Arizona Revised Statutes Titles 28, 34, and 41. The bond obligates both the principal (bidder) and the surety to the State of Arizona and remains in full force unless the principal either executes the contract with appropriate performance and payment bonds or pays the difference between their bid amount and any higher amount the State incurs to contract with another party. The surety must hold a certificate of authority to transact surety business in Arizona issued by the Director of the Department of Insurance. This bond form is a standard requirement for competitive sealed bids submitted to the Arizona Department of Administration and protects the State's interests in the procurement process.
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Text version
ATTACHMENT C
ARIZONA STATUTORY BID BOND
PURSUANT TO TITLES 28, 34 AND 41, ARIZONA REVISED STATUTES
(Penalty of this bond must not be less than 10% of the bid amount)
KNOW ALL MEN BY THESE PRESENTS:
That, (hereinafter "Principal"), as Principal, and , (hereinafter "Surety"), a corporation organized and existing under the laws of the State of , with its principal offices in the City of , holding a certificate of authority to transact surety business in Arizona issued by the Director of the Department of Insurance pursuant to Title 20, Chapter 2, Article 1, as Surety, are held and firmly bound unto the State of Arizona, (hereinafter "Obligee"), as Obligee, in the amount of Ten Percent (10%) of the amount of the bid of Principal, submitted by Principal to the Obligee for the work described below, for the payment of which sum, the Principal and Surety bind themselves, and their heirs, administrators, successors and assigns, jointly and severally, firmly by these presents.
WHEREAS, the Principal has submitted a bid for
IFB - DPS K-9 Improvements, PCS-22-145
NOW, THEREFORE, if the Obligee shall accept the proposal of the Principal and the Principal shall enter into a contract with the Obligee in accordance with the terms of the proposal and give the bonds and certificates of insurance as specified in the standard specifications with good and sufficient surety for the faithful performance of the contract and for the prompt payment of labor and materials furnished in the prosecution of the contract, or in the event of the failure of the Principal to enter into the contract and give the bonds and certificates of insurance, if the Principal pays to the Obligee the difference not to exceed the penalty of the bond between the amount specified in the proposal and such larger amount for which the Obligee may in good faith contract with another party to perform the work covered by the proposal then this obligation is void.
Otherwise it remains in full force and effect provided, however, that this bond is executed pursuant to the provisions of Section 34-201, Arizona Revised Statutes, and all liabilities on this bond shall be determined in accordance with the provisions of that section to the extent as if it were copied at length herein.
Solicitation No. BPM005819
Project Name: IFB - DPS K-9 Improvements
Agency Project No. PCS-22-145
Arizona Department of Administration
General Services Division 1400 W Washington St., Suite B200
Phoenix, AZ 85007
Witness our hands this day of , .
PRINCIPAL SEAL SURETY SEAL
By: By:
Attorney-in-Fact
Its:
Agency of Record
Agency Address
** END OF SECTION **
| ARIZONA STATUTORY BID BOND |
| Project Name, Project Number |
| hereinafter Principal as Principal and: |
| hereinafter Surety a corporation organized and existing: |
| with its principal offices in the City of: |
| holding a certificate of authority to transact surety business in Arizona: |
| PRINCIPAL: |
| SEAL: |
| SURETY: |
| SEAL_2: |
| By: |
| By_2: |
| Its: |
| Agency of Record: |
| Agency Address: |
| Day: |
| Month: |
| Year: |
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