Performance_Bond.pdf
PDF 341 KB Posted
- Attached to
- Job Order Contract (JOC) for Electrical Services
- Solicitation number
- IFB-280-3130601-TS
- Issued by
- Orange County, San Francisco City, California
About this file
This is a Faithful Performance Bond template for the County of Orange, California, designed to secure contractor compliance with contract obligations for the Job Order Contract (JOC) for Electrical Services at John Wayne Airport. The bond document establishes a binding agreement between the principal contractor, the surety company, and the County to ensure faithful performance of all covenants, conditions, and agreements specified in the underlying contract. The bond requires the contractor and surety to be jointly and severally liable for the penal sum amount, which is tied to the contract price at a specified rate per thousand dollars. The document must be executed with the surety representative's signature notarized and attached, and the surety company name must be typed or stamped above the signature line. The contractor entity must comply with California Corporations Code section 313 requirements, which mandate either dual signatures from specified corporate officers or a single officer signature accompanied by written evidence of binding authority.
The bond protects the County by requiring the contractor to indemnify, defend with County-approved counsel, and hold harmless the County and its officers and agents from losses related to contract non-performance. The surety waives notice of any changes, extensions, alterations, or additions to contract terms, specifications, or work scope, and remains obligated regardless of such modifications. The County may recover all costs, reasonable expenses, and fees incurred in enforcing the bond obligation, which are taxable as costs and included in any resulting judgment. The document must be approved as to surety and limits by the County's Chief Executive Officer or Risk Management, and approved as to form by the County Counsel's office. A certificate of notarization must be attached, and all signature lines require completion with dates and titles.
View the file
Other files
Show all 16
On GovTribe
Work with this file
- Download the original file
- Contacts named in this file
- Similar government files
- Ask GovTribe AI about this file
Text version
Signature of Surety (ies) representative must be notarized. Attach certificate of notarization to this document.
Name of Surety (ies) Company must be typed or stamped above signature line of surety (ies) representative.
FAITHFUL PERFORMANCE BOND
BOND NO.
(The premium charged on this bond is $__________, being at the rate of $____________ per thousand of the Contract price.)
WHEREAS, the COUNTY OF ORANGE, a political subdivision of the State of California (“County”), entered into a contract dated_____________, hereinafter called (“Contract”) with
(Name and Address of Contractor) hereinafter called “Principal,” for the work described as follows:
; and
WHEREAS, said Principal is required under the terms of said Contract to furnish a bond for the faithful performance of said Contract.
NOW, THEREFORE, WE, the Principal, and
(Name and Address of Surety) duly authorized to transact business under the laws of the State of California, as Surety, hereinafter called
“Surety,” are held and firmly bound jointly and severally liable unto County in the penal sum of _______ and 00/100s Dollars ($ ), lawful money of the United States, for the payment of which sum, well and truly to be made, we bind ourselves, our heirs, executors, administrators, successors and assigns, jointly and severally, firmly by these presents.
BOND NO. _______________________
County of Orange
THE CONDITION OF THIS OBLIGATION is such that, if the Principal, his or its heirs, executors, administrators, successors or assigns, shall in all things stand to, and abide by, and well and truly keep and perform the covenants, conditions and agreements in the said Contract, and in any alteration thereof made as therein provided, on his or its part to be kept and performed, at the time and in the manner therein specified, in all respects according to their true intent and meaning, and shall indemnify, defend with counsel approved in writing by County , and save harmless the County , its officers and agents, as therein stipulated, then this obligation shall become null and void; otherwise it shall be and remain in full force and virtue. As part of the obligation secured hereby and in addition to the face amount specified therefore, there shall be included cost and reasonable expenses and fees incurred by County in successfully enforcing such obligation, all to be taxed as cost and included in any judgment rendered. And the said Surety, for value received, hereby stipulates and agrees that no change, extension of time, alteration or addition to the terms of the Contract, or to the work to be performed thereunder, or to the specifications accompanying the same, shall in anywise affect its obligations on this bond, and it does hereby waive notice of any such change, extension of time, alteration or addition to the terms of the Contract, or to the work, or to the specifications.
IN WITNESS WHEREOF, we have hereunto set our hands and seals this ____ day of ____________.
APPROVED AS TO SURETY AND LIMITS CONTRACTOR
By
CEO/Risk Management Name & Title (see footnote)
APPROVED AS TO FORM
Office of the County Counsel Orange County, California
Name & Title (see footnote)
By
SURETY
Dated
Deputy
Footnote: Pursuant to the requirements of California Corporations Code section 313, one of the following two methods must be used by a corporation when it enters into a contract with the County:
1) Two people must sign the document. One of them must be the chairman of the board, the president or any vice president. The other must be the secretary, any assistant secretary, the chief financial officer or any assistant treasurer.
2) One corporate officer may sign the document, providing that written evidence of the officer’s authority to bind the corporation with only his or her signature must be provided. This evidence would ideally be a corporate resolution.
Signature of Surety representative must be notarized. Attach certificate of notarization to this document. Name of Surety Company must be typed or stamped above signature line of surety representative.
File details come from the government source that posted it. Updated .