Sample_Bid_Bond.pdf
PDF 35 KB Posted
- Attached to
- Liberty Street, Douglas Street to Denton Street
- Solicitation number
- CT226-07
- Issued by
- Ada County, Idaho
About this file
This document is a Bid Bond form for the Ada County Highway District (ACHD), which serves as a financial guarantee for a potential contract bid. The form requires the Principal (bidding contractor) and a Surety (bonding company) to commit to a penal sum equal to 10% of the total proposal amount. If the Principal is awarded the contract, they must enter into the agreement within ten days of contract presentation and provide Performance and Labor and Material Payment bonds. The form is designed to be filled out with specific contract details, including the contract name and number, which are currently left blank.
The Bid Bond ensures that if the awarded contractor fails to fulfill their contractual obligations, the bonding company will be financially responsible. The document requires the Surety Agent's Power-of-Attorney to be attached, and it provides spaces for signatures from the Principal, Surety, witnesses, and corporate attestation. The form is marked as optional for use by the Contractor and Bonding Company, suggesting it is a standard template that can be adapted to specific project requirements.
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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 _______________, 2025.
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 .