Performance_Bond_10.29.22_to_10.29.23.pdf

This document is a Renewable Annual Performance Bond issued by Berkley Surety Group, LLC, specifically Berkley Insurance Company, for Geo Secure Services, LLC, as the Principal. The bond is associated with the Arizona Department of Corrections, Rehabilitation & Reentry, with a penal sum of Twenty Million Three Hundred Ninety Four Thousand Dollars ($20,394,375.00). The bond is valid from October 29, 2022, to October 29, 2023, and is specifically related to RFP BPM004542 for 750 Minimum and Low Custody Contract Beds.

The bond provides financial guarantee for the contract performance, with the Surety liable only for actual excess costs of the contract up to the termination amount. The bond can be extended at the sole option of the Surety through Continuation Certificates, and includes provisions that limit the Surety's cumulative liability to the specified bond amount. No claims or actions can be brought against the Surety more than six months after the bond's termination, and the bond cannot be assigned without the Surety's written consent. The document includes notarized signatures and a power of attorney from Berkley Insurance Company authorizing specific corporate officers to execute such financial instruments.