Performance Bond.pdf
PDF 171 KB Posted
- Attached to
- ITB 2025/26-02 Pretrial Services Construction
- Solicitation number
- 2025/26-02
- Issued by
- Catron County, New Mexico
About this file
This Performance Bond document is associated with Curry County, New Mexico for the Pretrial Services Construction project. The bond is a legal instrument that guarantees the principal (contractor) will faithfully perform all contract duties, undertakings, and agreements for the construction project. The bond includes provisions for a one-year guarantee period where the principal must cover any faulty or defective materials and workmanship at no cost to the owner. The document is prepared to be executed in four counterparts, with spaces for signatures from the principal, surety, and witnesses.
The performance bond includes critical protections for Curry County, stipulating that the surety agrees to maintain the bond's obligations even if there are changes, time extensions, or alterations to the contract terms. The bond ensures the county is protected from financial losses due to contractor default and provides a mechanism for addressing unsatisfied claims. While specific monetary amounts are left blank in this template document, the bond represents a standard risk mitigation tool used in construction contracts to protect the governmental entity's interests and ensure project completion according to agreed-upon specifications and quality standards.
View the file
Other files
| File | Type | Posted |
|---|---|---|
| Bid Bond Form.pdf | ||
| Bid Form.pdf | ||
| Contractor Preference Form.pdf | ||
| Project Manual.pdf | ||
| ITB 2025.26.02 Pretrial Service.pdf | ||
| Campaign Contribution Form.pdf | ||
| Payment Bond Form.pdf | ||
| Drawings.pdf | ||
| Bidder.pdf | ||
| Subcontractor Listing.pdf |
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Text version
Curry County Pre-trial Services NCA.08
A18.16.32 00.3100-7
PERFORMANCE BOND
KNOW ALL MEN BY THESE PRESENTS: That we, the undersigned hereinafter called "Principal" and hereinafter called the "surety" a corporation authorized under the laws of the State of and authorized to transact business in the State of New Mexico, are held and firmly bound unto hereinafter called "OWNER" in the penal sum of dollars ($ ) in 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, and successors, jointly and severally, firmly by these presents.
THE CONDITION OF THIS OBLIGATION is such that Whereas, the Principal entered into a written contract with the Owner, dated the day of , 2025, a copy of which is hereto attached and made a part hereof for the construction of:
NOW THEREFORE, if the Principal shall truly and faithfully perform its duties, all the undertakings, covenants, terms, conditions, and agreements of said contract during the original term thereof, and any extensions thereof which may be granted by the Owner with or without notice to the Surety, and if he shall satisfy all claims and demands incurred under such contract, and shall fully indemnify and save harmless the Owner from all costs and damages which it may suffer by reason of failure to do so, and shall reimburse and repay the Owner all outlay and expense which the Owner may incur in making good any default, and if the said principal shall for a period of one (1) year from the immediately following the completion of said contract and acceptance thereof by the Owner guarantee all work performed under the contract against faulty or defective materials and workmanship at his own expense and at no cost to the Owner, then this obligation shall be void; otherwise to remain in full force and effect.
PROVIDED FURTHER, that 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 of the specifications accompanying the same shall in any wise affect its obligation or 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 specifications.
PROVIDED FURTHER, that no final settlement between the Owner and the Contractor shall abridge the right of any beneficiary hereunder, whose claim may be unsatisfied.
Curry County Pre-trial Services NCA.08
A18.16.32 00.3100-8
IN WITNESS WHEREOF, this instrument is executed in four (4) counterparts, each one of which shall be deemed an original, this the day of 2025.
ATTEST:
(Principal) Secretary Principal
By:
Address
(SEAL)
Witness as to Principal
Address
ATTEST:
(Surety) Secretary Surety
By:
Attorney-in-Fact
Address
(SEAL)
Witness as to Surety
Address
END OF SECTION 00-3100
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