Sample_Bid_Bond.pdf
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- Solicitation number
- CT224-32
- Issued by
- Boise County, Idaho
About this file
The document is a Bid Bond template for the Ada County Highway District (ACHD) designed to accompany a bid submission for a specific infrastructure project. The bond represents a financial guarantee of 10% of the total proposal amount, obligating the principal (bidder) to enter into a contract within ten days of award and provide performance and payment bonds. The bond ensures the bidder's commitment to the proposed contract terms and protects the contracting agency against potential bid withdrawal or failure to proceed.
This standard legal form requires the principal and surety to bind themselves to ACHD, with the bond becoming void if the contractor successfully enters the contract and provides required subsequent bonds. The form includes spaces for signatures from the principal, witness, surety, and requires attachment of a surety agent's power of attorney. While the specific contract details are not filled in, the template is structured to support competitive bidding processes for public infrastructure projects, providing a mechanism for financial assurance and risk mitigation for the contracting agency.
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Text version
BID BOND
KNOW ALL MEN BY THESE PRESENTS, that we ___________________________________ _____________________________________ of _____________________________________ as Principal, and ______________________________________________________________ as Surety, are held and firmly bound unto the Ada County Highway District (hereinafter called ACHD) in the full and penal sum of ten percent (10%) of the total amount of the proposal of said Principal for the work hereinafter described, for the payment of which will and truly to be made, we bind ourselves, our heirs, executors, administrators, successors and assigns, firmly by these presents.
The condition of this obligation is such that whereas the Principal has this day submitted a sealed proposal for:
(Contract Name)
(Contract Number)
NOW, THEREFORE, if said Principal shall be awarded and shall duly make and enter into a contract with ACHD in accordance with the terms of said proposal and award, and shall within ten
(10) days (not including Saturdays, Sundays and legal holidays) after presentation of the contract furnish Performance and Labor and Material Payment bonds, then this obligation shall be null and void; otherwise, it shall be and remain in full force and effect.
IN WITNESS WHEREOF, the above bounden parties have executed this instrument this _____ day of _______________, 2024.
Witness: (if Individual or Firm)
Principal:
Attest: (if Corporation) By:
Title:
Corporate Seal:
Attest
Surety:
By:________________________________ (Signature)
(Print Name)
(Title)
SURETY AGENT'S POWER-OF-ATTORNEY MUST BE ATTACHED
NOTE:
This form is included for optional use by the Contractor and Bonding Company.
File details come from the government source that posted it. Updated .