Sample_Bid_Bond_Form.pdf
PDF 171 KB Posted
- Attached to
- Invitation to Bid Parking Lot Rehabilitation (3)
- Solicitation number
- 2025-PWP-014
- Issued by
- Marion County, Indiana
About this file
This is a Bid Bond form (EJCDC C430, Penal Sum Form) prepared by the Board of Public Works for the City of Bloomington, Indiana, for use in connection with the Invitation to Bid Parking Lot Rehabilitation (3) project. The form serves as a standard template requiring bidders to provide surety bond documentation prior to bid submission. The bond obligates both the bidder and surety to guarantee that the selected bidder will execute the required Agreement and provide any performance and payment bonds within the timeframe specified in the bidding documents. The bond becomes null and void upon Owner acceptance of the Bid with timely delivery of required documents, rejection of all bids, or Owner failure to issue a Notice of Award within the specified timeframe, with a maximum allowable extension of 120 days from the bid due date subject to Surety consent.
The penal sum amount and specific bid due date are to be completed on the face of the bond document. Payment under the bond is due within 30 calendar days of written notice of default from the Owner. Any legal action must be commenced within one year after the bid due date and in a court of competent jurisdiction located in Indiana where the project is situated. The surety must provide current Power of Attorney documentation evidencing the authority of the executing officer or representative. This bond form complies with applicable statutory requirements and serves as the sole remedy available to the Owner in the event of bidder default.
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Text version
EJCDC® C‐430, Bid Bond (Penal Sum Form).
Copyright© 2018 National Society of Professional Engineers, American Council of Engineering Companies, and American Society of Civil Engineers. All rights reserved.
BID BOND
Bidder Surety
Name: [Full formal name of Bidder] Name: [Full formal name of Surety]
Address (principal place of business): Address (principal place of business):
[Address of Bidder’s principal place of business] [Address of Surety’s principal place of business]
Owner Bid
Name: [Full formal name of Owner] Project (name and location):
Address (principal place of business): [Owner project/contract name, and location of the project] [Address of Owner’s principal place of business]
Bid Due Date: [Enter date bid is due]
Bond
Penal Sum: [Amount]
Date of Bond: [Date]
Surety and Bidder, intending to be legally bound hereby, subject to the terms set forth in this Bid Bond, do each cause this Bid Bond to be duly executed by an authorized officer, agent, or representative.
Bidder Surety
(Full formal name of Bidder) (Full formal name of Surety) (corporate seal)
By: By:
(Signature) (Signature) (Attach Power of Attorney)
Name: Name:
(Printed or typed) (Printed or typed)
Title: Title:
Attest: Attest:
(Signature) (Signature)
Name: Name:
(Printed or typed) (Printed or typed)
Title: Title:
Notes: (1) Note: Addresses are to be used for giving any required notice. (2) Provide execution by any additional parties, such as joint venturers, if necessary.
EJCDC® C‐430, Bid Bond (Penal Sum Form).
Copyright© 2018 National Society of Professional Engineers, American Council of Engineering Companies, and American Society of Civil Engineers. All rights reserved.
1. Bidder and Surety, jointly and severally, bind themselves, their heirs, executors, administrators, successors, and assigns to pay to Owner upon default of Bidder the penal sum set forth on the face of this Bond.
Payment of the penal sum is the extent of Bidder’s and Surety’s liability. Recovery of such penal sum under the terms of this Bond will be Owner’s sole and exclusive remedy upon default of Bidder.
2. Default of Bidder occurs upon the failure of Bidder to deliver within the time required by the Bidding Documents (or any extension thereof agreed to in writing by Owner) the executed Agreement required by the Bidding Documents and any performance and payment bonds required by the Bidding Documents.
3. This obligation will be null and void if:
3.1. Owner accepts Bidder’s Bid and Bidder delivers within the time required by the Bidding Documents (or any extension thereof agreed to in writing by Owner) the executed Agreement required by the Bidding Documents and any performance and payment bonds required by the Bidding Documents, or
3.2. All Bids are rejected by Owner, or
3.3. Owner fails to issue a Notice of Award to Bidder within the time specified in the Bidding Documents (or any extension thereof agreed to in writing by Bidder and, if applicable, consented to by Surety when required by Paragraph 5 hereof).
4. Payment under this Bond will be due and payable upon default of Bidder and within 30 calendar days after receipt by Bidder and Surety of written notice of default from Owner, which notice will be given with reasonable promptness, identifying this Bond and the Project and including a statement of the amount due.
5. Surety waives notice of any and all defenses based on or arising out of any time extension to issue Notice of Award agreed to in writing by Owner and Bidder, provided that the total time for issuing Notice of Award including extensions does not in the aggregate exceed 120 days from the Bid due date without Surety’s written consent.
6. No suit or action will be commenced under this Bond prior to 30 calendar days after the notice of default required in Paragraph 4 above is received by Bidder and Surety, and in no case later than one year after the Bid due date.
7. Any suit or action under this Bond will be commenced only in a court of competent jurisdiction located in the state in which the Project is located.
8. Notices required hereunder must be in writing and sent to Bidder and Surety at their respective addresses shown on the face of this Bond. Such notices may be sent by personal delivery, commercial courier, or by United States Postal Service registered or certified mail, return receipt requested, postage pre‐paid, and will be deemed to be effective upon receipt by the party concerned.
9. Surety shall cause to be attached to this Bond a current and effective Power of Attorney evidencing the authority of the officer, agent, or representative who executed this Bond on behalf of Surety to execute, seal, and deliver such Bond and bind the Surety thereby.
10. This Bond is intended to conform to all applicable statutory requirements. Any applicable requirement of any applicable statute that has been omitted from this Bond will be deemed to be included herein as if set forth at length. If any provision of this Bond conflicts with any applicable statute, then the provision of said statute governs and the remainder of this Bond that is not in conflict therewith continues in full force and effect.
11. The term “Bid” as used herein includes a Bid, offer, or proposal as applicable.
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