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), which serves as a financial guarantee for a contractor's bid proposal. The form requires the principal (bidder) and a surety to commit to a penal sum equal to 10% of the total bid amount, with the purpose of ensuring that if the principal is awarded the contract, they will enter into the agreement and provide required performance and payment bonds within ten days of contract presentation. The form provides spaces for contract name and number, which are currently left blank, and is designed to be completed by the bidding party.
The bid bond serves as a protection mechanism for ACHD, ensuring that the winning bidder follows through on their proposal and meets contractual obligations. If the principal fails to execute the contract or provide the necessary bonds, the surety would be liable for the full penal sum. The document requires signatures from both the principal and surety, with a specific note that a Surety Agent's Power-of-Attorney must be attached. The form is marked as optional for use by the contractor and bonding company, suggesting it may be a standardized template that can be adapted to specific procurement needs.
View the file
Other files
| File | Type | Posted |
|---|---|---|
| Countryman_Estates_-_Concrete_Repair.pdf | ||
| Sample_Agreement.pdf | ||
| Repair_Location_List.pdf | ||
| Scope_of_Work.pdf | ||
| Vicinity_Map.pdf | ||
| Sample_Bid_Bond.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 .