Sample_Performance_and_Payment_Bonds.pdf

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BONDS

PINELLAS COUNTY PURCHASING ITB –PURCHASING CONSTRUCTION REVISED: 06/2023

BOND NO.

PERFORMANCE BOND

KNOW ALL MEN BY THESE PRESENTS:

That , as Principal, and , as Surety, Located at:

(Business Address) ( Phone Number) Are held and firmly bound unto Pinellas County, Florida, as Obligee in the sum of________________________________________________ ___________________________________________________________________________DOLLARS $ ___________________ our heirs, executors, personal representatives, successors and assigns, jointly and severally.

WHEREAS, Principal has entered into a Agreement with Obligee for Bid Title: (PID # ) , Bid No: in accordance with Plans and Specifications, which Agreement is incorporated by reference and made a part hereof, and is referred to as the Agreement.

THE CONDITIONS OF THIS BOND is that if Principal:

1. Performs the Agreement at the times and in the manner prescribed in the Agreement; and

2. Pays Obligee any and all losses, damages, costs and attorneys’ fees, including appellate proceedings, that Obligee sustains because of any default by Principal under the Agreement, including, but not limited to, all delay damages, whether liquidated or actual, incurred by Obligee; and

3. Performs the guarantee of all Work and materials furnished under the Agreement for the time specified in the Agreement; then this bond is void; otherwise it remains in full force.

Any changes in or under the Agreement and compliance or noncompliance with any formalities connected with the Agreement or the changes do not affect Surety’s obligations under this bond.

The Surety, for value received, hereby stipulates and agrees that no changes, extensions of time, alterations or additions to the terms of the Agreement or other Work to be performed hereunder, or the Specifications referred to therein shall in anyway affect its obligation under this bond, and it does hereby waive notice of any such changes, extensions of time, alterations or additions to the terms of the Agreement or to Work or to the Specifications.

This instrument shall be construed in all respects as a statutory bond. It is expressly understood the time provisions and statute of limitation under Section 255.05 Florida Statutes, shall apply to this bond.

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PINELLAS COUNTY PURCHASING ITB –PURCHASING CONSTRUCTION REVISED: 06/2023

By execution of this bond, the Surety acknowledges that is has read the Surety qualifications and obligations imposed by the construction Agreement and hereby satisfies those conditions.

IN WITNESS WHEREOF, the above bound parties have executed this instrument this ______________day of____,20__ the name of each party being affixed, and these presents duly signed by its undersigned representative, pursuant to authority of its governing body.

Signed, sealed and delivered PRINCIPAL:

In the presence of:

(Authorized Signature)

Witness as to Principal (Print Name)

Witness as to Principal (Title)

(Business Address)

STATE OF FLORIDA

COUNTY OF

The foregoing Instrument was acknowledged before me this

By Of , a

Corporation, on behalf of the Corporation. He/She is personally known to me or has produced Florida

Driver’s License as identification and who did (did not) take an oath.

Notary:

Print Name:

Commission Number:

My Commission Expires:

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PINELLAS COUNTY PURCHASING ITB –PURCHASING CONSTRUCTION REVISED: 06/2023

SURETY:

Witness as to Surety (Authorized Signature)

Witness as to Surety (Print Name) or

Witness as to Attorney In Fact (Signature As Attorney In Fact)

(Attach Power of Attorney)

Witness as to Attorney In Fact (Print Name)

(Telephone Number)

The foregoing instrument was acknowledged before me this

Of , a Corporation, on behalf of the Corporation. He/She is personally known to me or has produced Florida Driver’s License as identification and who did (did not) take an oath.

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PINELLAS COUNTY PURCHASING ITB –PURCHASING CONSTRUCTION REVISED: 06/2023

PAYMENT BOND

BY THIS BOND, We (hereinafter called the (“Principal” and (hereinafter called the (“Surety”), located at

A surety insurer chartered and existing under the laws of the state of and authorized to do Business in the State of Florida, are held and firmly bound unto Pinellas County (hereinafter called the “County”) in the sum of_________________________________________________________ ______________________________________________________DOLLARS $_____________________________ For payment of which we bond ourselves, our heirs, our personal representatives, our successors and our assignees jointly and severally.

WHEREAS, Principal and County have reached a mutual agreement (hereinafter referred to as the “Agreement”) for Bid Title: (PID # ) , Bid No: said Agreement being made a part of this Bond by this reference.

NOW, THEREFORE, THE CONDITION OF THIS BOND IS THAT IF THE PRINCIPAL:

1. Shall promptly make payments to all claimants as defined in section 255.05(l), Florida Statutes, Supplying the Principal with labor, materials or supplies, as used directly or indirectly by the Principal in the prosecution of the Work provided for in the Agreement and;

2. Shall pay the County for all losses, damages, expenses, costs and attorneys’ fees, including appellate proceedings, that the County sustains because of a default by the Principal in contravention to the Agreement in regard to payment for such labor, materials, or supplies furnished to the Principal; then this bond is void; otherwise this Bond remains in full force and effect.

BE IT FURTHER KNOWN:

1. Any changes in or under the Agreement and compliance or noncompliance with any formalities Connected with the said Agreement or alterations, which may be made in the terms of said Agreement, or in the Work to be done under it, or the giving by the County of any extension of time for the performance of the said Agreement, or any other forbearance on the part of the County or Principal to the other, shall not in any way release the Principal and the Surety, or either of them, their heirs, personal representatives, successors or assigns from liability hereunder, notice to the Surety of any such changes, alterations, extensions or forbearance being hereby waived.

2. Certain claimants seeking the protection of this Bond must timely comply with the strict Requirements set forth in Section 255.05, Florida Statutes, and as otherwise provided by law.

3. The Provisions of this bond are subject to the limitation of Section 255.05(2).

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PINELLAS COUNTY PURCHASING ITB –PURCHASING CONSTRUCTION REVISED: 06/2023

By execution of this bond, the Surety acknowledges that it has read the Surety qualifications and obligations imposed by the construction Agreement and hereby satisfies those conditions.

THIS BOND DATE THE DAY OF ____________DAY OF _____,2023

(The date of issue by the Surety or by the Surety’s agent and the date of such agent’s power-of-attorney)

Signed, sealed and delivered PRINCIPAL:

(Authorized Signature)

(Print Name)

Of , a Corporation, on behalf of the Corporation. He/She is personally known to me or has produced Florida Driver’s

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PINELLAS COUNTY PURCHASING ITB –PURCHASING CONSTRUCTION REVISED: 06/2023

Of , a Corporation, on behalf of the Corporation. He/She is personally known to me or has produced Florida Driver’s

SURETY:

Witness as to Surety (Authorized Signature)

Witness as to Surety (Print Name)

OR

Witness as to Attorney In Fact (Signature As Attorney In Fact)

(Attach Power of Attorney)

Witness as to Attorney In Fact (Print Name)

(Telephone Number)