Performance Bond Form.pdf
PDF 39 KB Posted
- Solicitation number
- B27000123
- Issued by
- Hawaii
About this file
This is a Performance Bond Form (Surety) for use in Hawaii state and local contracts. The document establishes the bonding requirements for contractors undertaking the Operation and Maintenance of Wahiawa Irrigation System project. The form serves as a standard template wherein the Principal (contractor) and Surety (bonding company) bind themselves to the Obligee (State/County Entity) for faithful performance and completion of the contract work in strict accordance with all terms, specifications, and drawings. The bond remains in effect through any modifications, extensions, or amendments to the contract without requiring notice to the Surety.
In the event of contractor default on contract obligations, the Surety agrees to remedy the default, assume performance of the work, or provide monetary satisfaction up to the penal sum of the bond following written notice of default from the Obligee. The bond requires acknowledgment of all signatures by a notary public and must be signed by authorized representatives of both the Principal and Surety. The form includes blank fields for insertion of the contractor's legal name and address, bonding company details, obligee identification, bond amount in dollars, contract date, and execution date, allowing for customization to specific contract requirements and project details.
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Other files
| File | Type | Posted |
|---|---|---|
| IFB 26 200 009.pdf | ||
| WIS Map.pdf | ||
| Wahiawa Irrigation System Water Meter GPS Locations.pdf | ||
| AG 008 103D Rev 01102023.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
File details come from the government source that posted it. Updated .