Performance Bond Form.pdf
PDF 39 KB Posted
- Attached to
- Fire Mitigation, Oahu
- Solicitation number
- B27000112
- Issued by
- Honolulu County, Hawaii
About this file
This is a Performance Bond Form (Surety) used by the State of Hawaii for the Fire Mitigation project on Oahu. The bond serves as a surety instrument between the contractor (Principal), bonding company (Surety), and the State/County Entity (Obligee). The document establishes the contractor's obligation to promptly and faithfully perform and fully complete the contract in strict accordance with all terms, specifications, and drawings. The bond remains in effect regardless of any changes, extensions of time, alterations, or additions to the contract terms, and the surety waives notice of such modifications. The penal sum of the bond is left blank for completion and represents the financial guarantee amount.
In the event of default by the Principal on their contract obligations, the Surety must be provided written notice of default by the Obligee. Upon such notice, the Surety has the obligation to remedy the default, assume and complete the work under the contract, or pay moneys to the Obligee in satisfaction of the surety's performance obligation, subject to the limitation of the bond's penal sum. All signatures on the form must be acknowledged by a notary public. The form is dated June 21, 2007, and requires completion of blanks for the contractor's legal name and address, bonding company information, obligee entity, bond amount in dollars, and contract date.
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Other files
| File | Type | Posted |
|---|---|---|
| 13 Acres.jpg | JPG image | |
| 1.5 Acres.jpg | JPG image | |
| IFB 26 200 010.pdf | ||
| AG 008 103D Rev 01102023.pdf | ||
| SPECIFICATIONS Fire Mitigation Oahu.pdf |
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Text version
-1- EXHIBIT B
EXHIBIT B
PERFORMANCE BOND (SURETY)
(6/21/07)
KNOW TO ALL BY THESE PRESENTS:
That _________________________________________________________________, (Full Legal Name and Street Address of Contractor) as Contractor, hereinafter called Principal, and ______________________________________
(Name and Street Address of Bonding Company) as Surety, hereinafter called Surety, a corporation(s) authorized to transact business as a surety in the State of Hawaii, are held and firmly bound unto the ______________________, (State/County Entity) its successors and assigns, hereinafter called Obligee, in the amount of
DOLLARS ($__________________), to which payment Principal and Surety bind themselves, their heirs, executors, administrators, successors and assigns, jointly and severally, firmly by these presents.
WHEREAS, the above-bound Principal has signed a Contract with Obligee on
___________________, for the following project:
hereinafter called Contract, which Contract is incorporated herein by reference and made a part hereof.
NOW THEREFORE, the condition of this obligation is such that:
If the Principal shall promptly and faithfully perform, and fully complete the
Contract in strict accordance with the terms of the Contract as said Contract may be modified or amended from time to time; then this obligation shall be void; otherwise to remain in full force and effect.
-2- EXHIBIT B
Surety to this Bond hereby stipulates and agrees that no changes, extensions of time, alterations, or additions to the terms of the Contract, including the work to be performed thereunder, and the specifications or drawings accompanying same, shall in any way affect its obligation on this bond, and it does hereby waive notice of any such changes, extensions of time, alterations, or additions, and agrees that they shall become part of the Contract.
In the event of Default by the Principal, of the obligations under the Contract, then after written Notice of Default from the Obligee to the Surety and the Principal and subject to the limitation of the penal sum of this bond, Surety shall remedy the Default, or take over the work to be performed under the Contract and complete such work, or pay moneys to the Obligee in satisfaction of the surety's performance obligation on this bond.
Signed this ________ day of _______________, _______.
(Seal) ___________________________________
Name of Principal (Contractor)
Signature
Title
(Seal) ___________________________________
Name of Surety
Signature
Title
*ALL SIGNATURES MUST BE ACKNOWLEDGED
-3- EXHIBIT B
BY A NOTARY PUBLIC
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