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 template for the Ada County Highway District (ACHD), designed to accompany a contractor's bid proposal. The form requires the principal (bidder) and surety to guarantee 10% of the total bid amount, with the obligation that if the principal is awarded the contract, they will enter into the agreement within ten days and provide performance and labor/material payment bonds. The template is structured for optional use by contractors and bonding companies, with spaces to fill in specific contract details, names, and signatures.
The bid bond serves as a financial assurance mechanism for ACHD, protecting the agency's interests by ensuring the selected contractor will follow through on the proposed contract terms. The bond commits the principal and surety to financial liability if the contractor fails to execute the contract or provide required performance bonds. While the specific contract details are not filled in on this template, the form indicates that it is part of a standard procurement process that requires bidders to demonstrate financial stability and commitment to the potential project.
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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 .