ITB STANDARD BID BOND FORM.pdf
PDF 663 KB Posted
- Attached to
- North Campus Painting
- Solicitation number
- CP012926
- Issued by
- Connecticut
About this file
This is a Standard Bid Bond Form for the State of Connecticut related to the North Campus Painting project. The bid bond is required from contractors submitting proposals for this painting project and must be executed by the principal contractor and an authorized surety corporation licensed to conduct business in Connecticut. The bond secures the principal's commitment to enter into a written contract with the State of Connecticut upon award and to provide the required performance and payment bonds with acceptable surety, or alternatively to pay damages to the state for failure to do so.
The bid bond penalty is set at ten percent of the bidder's proposal amount in lawful United States currency. The form requires completion of standard identification fields including the principal's name and address, the surety company's state of incorporation and authorization details, the project reference, and execution by both the principal and the surety's attorney-in-fact with appropriate signatures and dates. Only contractors with demonstrated experience in painting are eligible to submit cost proposals and statements of qualification for this project.
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Text version
Standard Bid Bond Form Page 1 of 1
STANDARD BID BOND:
NOW ALL MEN BY THESE PRESENTS,
That we, _____________________________________________________________ hereinafter called the principal, of _______________________________________, as principal, and _______________________________, hereinafter called the Surety, a corporation organized and existing under the laws of the State of _________________________, and duly authorized to transact a surety business in the State of Connecticut, as Surety, are held and firmly bound unto the State of Connecticut, as obligee, in the penal sum of ten (10) percent of the amount of the bid set forth in a proposal hereinafter mentioned, ________________________________, in lawful money of the United States of America, for the payment of which sum, well and truly to be made to the Obligee, the Principal and the Surety bind, themselves, their heirs, executors, administrators, successors and assigns, jointly and severally, firmly by these presents.
THE CONDITION OF THIS OBLIGATION IS SUCH,
That, whereas the Principal has submitted or is about to submit a proposal to the Obligee related to a contract for the Project Referenced above.
NOW, THEREFORE, if the said contract be awarded to the Principal and the Principal shall, within such time as may be specified, enter in the said contract in writing with the State of Connecticut and give the required bonds, with surety acceptable to the Obligee, or if the Principal shall fail to do so, pay to Obligee the damages which the Obligee may suffer by reason of such failure not exceeding the penalty of this bond, then this obligation shall be void, otherwise to remain in full force and effect.
SIGNED, SEALED AND DATED this ________ day of _______________________, 20______
(Principal’s Signature) Surety
______________________________________ by _________________________________ (Print Name) It’s attorney in fact Signature
Company Name (Print name)
| hereinafter called the Surety a corporation organized and existing: |
| under the laws of the State of: |
| business in the State of Connecticut as Surety are held and firmly bound unto the State of Connecticut: |
| the payment of which sum well and truly to be made to the Obligee the Principal and the Surety bind: |
| Surety: |
| Print Name: |
| Company Name: |
| Print name: |
| DAY: |
| MONTH: |
| YEAR: |
| NAME: |
File details come from the government source that posted it. Updated .