J.7 Standard Form 1418 - Performance Bond.pdf

PERFORMANCE BOND FOR OTHER THAN

CONSTRUCTION CONTRACTS

(See instructions on reverse)

DATE BOND EXECUTED (Must be same or later than date of contract) OMB Control Number: 9000-0045

Expiration Date: 8/31/2022

Paperwork Reduction Act Statement - This information collection meets the requirements of 44 USC § 3507, as amended by section 2 of the Paperwork Reduction Act of 1995. You do not need to answer these questions unless we display a valid Office of Management and Budget (OMB) control number. The OMB control number for this collection is 9000-0045. We estimate that it will take 1 hour to read the instructions, gather the facts, and answer the questions. Send only comments relating to our time estimate, including suggestions for reducing this burden, or any other aspects of this collection of information to: U.S. General Services Administration, Regulatory Secretariat Division (M1V1CB), 1800 F Street, NW, Washington, DC 20405.

PRINCIPAL (Legal name and business address)

SURETY(IES) (Name(s) and business address(es))

OBLIGATION:

CONDITIONS:

The principal has entered into the contract identified above.

The principal and Surety(ies) executed this performance bond and affixed their seals on the above date.

The above obligation is void if the Principal: (1) Performs and fulfills all the undertakings, covenants, terms, conditions, and agreements of the contract during either the base term or an optional term of the contract and any extensions thereof that are granted by the Government, with or without notice to the Surety(ies), and during the life of any guaranty required under the contract, and (2) performs and fulfills all the undertakings, covenants, terms, conditions, and agreements of any and all duly authorized modifications of the contract that hereafter are made. Notice of those modifications to the Surety(ies) is waived.

The guaranty for a base term covers the initial period of performance of the contract and any extensions thereof excluding any options. The guaranty for an option term covers the period of performance for the option being exercised and any extensions thereof.

The failure of a surety to renew a bond for any option term shall not result in a default of any bond previously furnished covering any base or option term.

THEREFORE:

WITNESS:

TYPE OF ORGANIZATION ("X" one)

STATE OF INCORPORATION

INDIVIDUAL

CORPORATION

PARTNERSHIP

JOINT VENTURE

PENAL SUM OF BOND

MILLION(S)

CONTRACT DATE

OPTION DATE

CONTRACT NUMBER

OPTION NUMBER

THOUSAND(S) HUNDRED(S) CENTS

We, the Principal and Surety(ies), are firmly bound to the United States of America (hereinafter called the Government) in the above penal sum. For payment of the penal sum, we bind ourselves, our heirs, executors, administrators, and successors, jointly and severally. However, where the Sureties are corporations acting as co-sureties, we, the Sureties, bind ourselves in such sum "jointly and severally" as well as "severally" only for the purpose of allowing a joint action or actions against any or all of us. For all other purposes, each Surety binds itself, jointly and severally with the Principal, for the payment of the sum shown opposite the name of the Surety. If no limit of liability is indicated, the limit of liability is the full amount of the penal sum.

PRINCIPAL

SIGNATURE(S)

NAME(S) &

TITLE(S)

(Typed)

1.

1.

2.

INDIVIDUAL SURETY(IES)

CORPORATE SURETY(IES)

SIGNATURE(S)

NAME(S)

(Typed)

NAME &

ADDRESS

SIGNATURE(S)

NAME(S) &

TITLE(S)

(Typed)

Corporate Seal

(Seal)(Seal) 1.

1.

1.

2.

2.

1.

2.

2.

2.

(Seal) (Seal) Corporate

Seal

SU

R

ET

Y

A

STATE OF INCORPORATION LIABILITY LIMIT

AUTHORIZED FOR LOCAL REPRODUCTION

Previous edition is NOT usable

STANDARD FORM 1418 (REV. 2/1999)

Prescribed by GSA-FAR (48 CFR) 53.228(b)

SU

R

ET

Y

C

SU

R

ET

Y

E

SU

R

ET

Y

G

NAME &

ADDRESS

SIGNATURE(S)

NAME(S) &

TITLE(S)

(Typed)

1.

1. 2.

2.

STATE OF INCORPORATION LIABILITY LIMIT

Corporate Seal

Corporate Seal

LIABILITY LIMITSTATE OF INCORPORATION

2.

2.1.

1.

NAME(S) &

TITLE(S)

(Typed)

SIGNATURE(S)

NAME &

ADDRESS

SU

R

ET

Y

F

NAME &

ADDRESS

SIGNATURE(S)

NAME(S) &

TITLE(S)

(Typed)

1.

1. 2.

2.

STATE OF INCORPORATION LIABILITY LIMIT

Corporate Seal

Corporate Seal

LIABILITY LIMITSTATE OF INCORPORATION

2.

2.1.

1.

NAME(S) &

TITLE(S)

(Typed)

SIGNATURE(S)

NAME &

ADDRESS

SU

R

ET

Y

D

NAME &

ADDRESS

SIGNATURE(S)

NAME(S) &

TITLE(S)

(Typed)

1.

1. 2.

2.

STATE OF INCORPORATION LIABILITY LIMIT

Corporate Seal

Corporate Seal

LIABILITY LIMITSTATE OF INCORPORATION

2.

2.1.

1.

NAME(S) &

TITLE(S)

(Typed)

SIGNATURE(S)

NAME &

ADDRESS

SU

R

ET

Y

B

BOND

PREMIUM

RATE PER THOUSAND ($) TOTAL ($)

INSTRUCTIONS

1. This form is authorized for use in connection with Government contracts. Any deviation from this form will require the written approval of the Administrator of General Services.

4. Corporations executing the bond shall affix their corporate seals.

Individuals shall execute the bond opposite the word "Corporate Seal", and shall affix an adhesive seal if executed in Maine, New Hampshire, or any other jurisdiction requiring adhesive seals.

5. Type the name and title of each person signing this bond in the space provided.

6. Unless otherwise specified, the bond shall be submitted to the contracting office that awarded the contract.

(b) Where individual sureties are involved, a completed Affidavit of Individual Surety (Standard Form 28) for each individual surety, shall accompany the bond. The Government may require the surety to furnish additional substantiating information concerning their financial capability.2. Insert the full legal name and business address of the Principal in the space designated "Principal" on the face of the form. An authorized person shall sign the bond. Any person signing in a representative capacity (e.g., an attorney-in-fact) must furnish evidence of authority if that representative is not a member of the firm, partnership, or joint venture, or an officer of the corporation involved.

3. (a) Corporations executing the bond as sureties must appear on the Department of the Treasury's list of approved sureties and must act within the limitation listed therein. Where more than one corporate surety is involved, their names and addresses shall appear in the spaces (Surety A, Surety B, etc.) headed "CORPORATE SURETY(IES)." In the space designated "SURETY(IES)" on the face of the form, insert only the letter identification of the sureties.

STANDARD FORM 1418 (REV. 2/1999) BACK