Sample_Bid_Bond.pdf
PDF 35 KB Posted
- Attached to
- Countryman Estates - Concrete Repair
- Solicitation number
- CT226-04
- Issued by
- Ada County, Idaho
About this file
This document is a Bid Bond form for the Ada County Highway District (ACHD), designed to accompany a bid proposal. The form requires a Principal (bidder) and a Surety to guarantee the bid, with the bond amount set at 10% of the total proposal amount. The bond provides assurance that if the Principal is awarded the contract, they will enter into the agreement within ten days and furnish the required Performance and Labor and Material Payment bonds. The form is structured to be completed with specific contract details, including the contract name and number, and is dated for execution in 2025.
The Bid Bond serves as a financial guarantee that protects ACHD by ensuring the bidder will follow through on their proposal. If the Principal fails to meet the contract requirements, the Surety will be responsible for the penal sum. The document requires signatures from both the Principal and Surety, with a note that the Surety Agent's Power-of-Attorney must be attached. This form is marked as optional for use by the Contractor and Bonding Company, providing flexibility in the bidding process while maintaining a standard format for bid security.
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Other files
| File | Type | Posted |
|---|---|---|
| Countryman_Estates_-_Concrete_Repair.pdf | ||
| Sample_Agreement.pdf | ||
| Repair_Location_List.pdf | ||
| Scope_of_Work.pdf | ||
| Vicinity_Map.pdf |
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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 .