Sample_Bid_Bond.pdf
PDF 35 KB Posted
- Attached to
- Munger Road Bridges #1005 and #2001
- Solicitation number
- CT226-08
- Issued by
- Boise County, Idaho
About this file
This document is a Bid Bond template for the Ada County Highway District (ACHD), designed to be completed by a contractor and surety company when submitting a bid proposal. The form requires the principal (contractor) to commit to a penal sum equal to 10% of the total proposal amount, with the condition that if awarded the contract, the principal must enter into the agreement within ten days and provide Performance and Labor and Material Payment bonds. The blank spaces in the document are meant to be filled in with specific contract details such as the contract name and number.
The bid bond serves as a financial guarantee to ACHD that the winning bidder will follow through on the contract terms, protecting the agency's interests by ensuring the selected contractor will execute the contract and provide required performance bonds. The document includes spaces for signatures from the principal, surety, and witnesses, 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, suggesting it may be a standard template that can be adapted to specific procurement needs.
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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 .