Performance_Bond.docx
DOCX document 21 KB Posted
- Attached to
- Wilson Dr & Ave Waterline Replacement
- Solicitation number
- 27-002
- Issued by
- Washington County, Barlow City, Oregon
About this file
This is a Faithful Performance Bond template for the City of Beaverton, Oregon, required for construction contracts awarded by the municipality. The bond document establishes the contractual relationship between the Principal (contractor), the Surety company, and the City of Beaverton, and is specifically referenced in connection with the Wilson Drive & Wilson Avenue Waterline Replacement project. This infrastructure project involves the installation of approximately 3,400 linear feet of new water main—comprising 2,700 feet of 8-inch pipe, 500 feet of 6-inch pipe, and 200 feet of 4-inch pipe—along with associated hydrant and service line replacements within a residential neighborhood along SW Wilson Drive, SW Wilson Avenue (from SW Wilson Court to SW Hart Road), and a section of SW 139th Avenue.
The performance bond requires a penal sum equal to not less than 100 percent of the estimated contracted cost of the work, with the Principal and Surety jointly and severally bound to the City of Beaverton. The bond obligates the Principal to perform all covenants specified in the contract at the time and in the manner designated, and to indemnify and hold harmless the City, its officers, and agents. The Surety agrees that no changes, extensions of time, alterations, or additions to the contract terms, work specifications, or work performed shall affect its obligations on the bond, and it waives notice of any such modifications. The document requires execution by authorized representatives of both the contractor and the surety company, with the surety company's authorized representative certifying their authority to bind the corporation to the contract terms.
View the file
Other files
| File | Type | Posted |
|---|---|---|
| Wilson_Dr_&_Ave_Waterline_Replacement_(Addendum_#1_Revision).pdf | ||
| Wilson_Dr_&_Ave_Waterline_Replacement.pdf | ||
| Wilson_Dr_&_Ave_Waterline_Replacement_-_Bid_Set_Plans.pdf | ||
| BLANK_Sole_Source_Justification_Form.pdf | ||
| Laws_to_be_Observed.docx | DOCX document | |
| LABOR_AND_MATERIAL_PAYMENT_BOND.docx | DOCX document | |
| Locates.docx | DOCX document | |
| Notice_to_Proceed.docx | DOCX document | |
| Construction_Contract_-_Sample.docx | DOCX document |
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Text version
FAITHFUL PERFORMANCE BOND
BOND NO. ___________________
KNOW ALL MEN BY THESE PRESENTS that:
WHEREAS, the City of Beaverton, (“City”) has awarded to _____________________________ ("Principal") a certain contract dated the _____ day of _________, 20__, a copy of which is attached and incorporated herein for the construction of the CITY OF BEAVERTON _______________________________ PROJECT; and
WHEREAS, the Principal is required under the terms of said contract to furnish a Bond for the faithful performance of the contract;
NOW, THEREFORE, we, the Principal and __________________________________________ ____________________________________as surety, are held and firmly bound unto the City of Beaverton the penal sum of _________________________________________Dollars and ____________ Cents ($_________) lawful money of the United States, being not less than one hundred percent (100%) of the estimated contracted cost of the work, for the payment of which we bind ourselves, our heirs, executors, administrators and successors, jointly and severally.
The condition of this obligation is such that if above bound Principal shall perform the covenants, in that contract on its part to be kept and performed at the time and in the manner therein specified, and in all respects according to their true intent and meaning, and shall indemnify and save harmless the City, its officers and agents as therein stipulated, then this obligation shall become null and void; if not, this obligation shall be and remain in full force and effect.
The surety, for value received, hereby agrees that no change, extension of time, alteration, or addition to the terms of the contract or to the work performed thereunder or the specifications accompanying the same shall in any way affect its obligations on this bond, and it hereby waives notice of any change, extension of time, alteration, or addition to the terms of the contract or to the work or to the specifications.
The parties by the signature of their authorized representatives, signify that each has read this contract, understands its terms, and agrees to be bound thereby.
CONTRACTOR:
BY ____________________________________________________
TITLE __________________________________________________
Principal
(If surety is a corporation): I certify that I am authorized by the Board of Directors to enter into this contract on behalf of the corporation and bind the corporation to its terms.
SURETY COMPANY:
BY ____________________________________________________
TITLE __________________________________________________
Attorney-in-fact
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