ITB STANDARD BID BOND FORM.pdf
PDF 663 KB Posted
- Solicitation number
- FO501995a
- Issued by
- Connecticut
About this file
This is a Standard Bid Bond Form for the State of Connecticut related to the Torrey Life Sciences Greenhouse Improvements - Phase 1 project. The bid bond form serves as a standard template for contractors bidding on state contracts in Connecticut. The form requires the principal (bidding contractor) and an authorized surety corporation to jointly bind themselves to the State of Connecticut as obligee. Only contractors with experience in abatement are eligible to submit cost proposals and statements of qualification for this project.
The bid bond is set at ten percent of the bid amount and is structured to ensure that if the contract is awarded to the principal, the contractor will execute the contract in writing and provide required bonds with acceptable surety within a specified timeframe. If the principal fails to meet these obligations, the surety is liable to pay damages to the obligee, not to exceed the penalty amount of the bond. The form requires signatures and seals from both the principal and the surety's attorney in fact, along with printed names and company information for both parties, with specific fields for the date of execution.
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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 .