SAMPLE_BID_BOND.docx

BID BOND

City of Carmel

Instructions To Bidders Bidders may use this form or other form containing the same material conditions and provisions as approved in advance by OWNER/Obligee.

Bidder/Surety must attach a signed, certified and effective dated copy of the Power of Attorney or Attorney-In-Fact establishing the authority of the person(s) signing this Bid Bond on behalf of the Surety.

The Surety company executing this bond shall appear on the most current list of “Surety Companies Acceptable on Federal Bonds,” as specified in the U.S. Treasury Department Circular 570, as amended, and be authorized to transact business in the State of Indiana.

KNOW ALL MEN BY THESE PRESENTS, that the undersigned “Bidder”: _________________________________________________________________ and

a corporation chartered and existing under the laws of the State of ______________________________, and authorized to do business in the State of Indiana, are held and firmly bound unto the City of Carmel, Indiana (“Obligee”) in the full and just sum equal to ten percent (10%) of the price stated in the Bid proposal described in Part 2, including accepted alternates, if any, to be paid upon demand of the Obligee, together with interest at the maximum legal rate from date of demand and any attorney fees and court costs incurred by Obligee to enforce this instrument, to which payment well and truly to be made we bind ourselves, our heirs, executors, administrators, successors, and assigns, jointly and severally and firmly by these presents. Ten percent (10%) of the price stated in the Bid Proposal is $_________________.

WHEREAS, the Obligee has solicited Bids for certain work for or in furtherance of construction of improvements described generally as:

BID PROJECT

pursuant to plans, specifications and other “Contract Documents” included as parts of and designated by such solicitation; and WHEREAS, the Bidder has submitted to the Obligee a Bid proposal to perform such Work.

NOW THEREFORE: The conditions of this obligation are such that if the Bid proposal be accepted, with or without conditions, the Bidder shall within such time thereafter as prescribed by the Contract Documents (i) fulfill all conditions of such award that remain to be fulfilled, (ii) execute an Agreement in accordance with the Bid proposal and in the form and manner required by the Contract Documents, and (iii) thereafter provide all bonds, and other documentation required by the Contract Documents to be delivered to Obligee prior to commencing work on the project, including without limitation a sufficient and satisfactory performance bond and payment bond payable to Obligee, each in an amount of one hundred percent (100%) of the total project Agreement price as awarded and in form and with surety satisfactory to said Obligee, then this obligation to be void; otherwise to be and remain in full force and virtue in law, and the Surety shall, upon failure of the Bidder to comply with any or all of the foregoing requirements within the time specified above and as prescribed by the Contract Documents, immediately pay to the Obligee, upon demand, the amount hereof, in good and lawful money of the United States of America, not as a penalty, but as liquidated damages.

IN TESTIMONY THEREOF, the Bidder and Surety have caused this instrument to be duly signed and sealed this day of , 20 .

This BID Bond shall bind the undersigned Surety whether or not also signed by the Bidder.

“Bidder” “Surety”

By: ____________________________ By:________________________________

Printed:__________________________ Printed:_____________________________

Countersigned:________________________