Sample_Performance_Bond.pdf
PDF 129 KB Posted
- Attached to
- B026-45 Hubbard Park Splash Pad
- Solicitation number
- B026-45
- Issued by
- New Haven County, Connecticut
About this file
This is a Performance Bond template document applicable to the City of Meriden, Connecticut's Invitation to Bid (ITB) B026-45 for the construction of a splash pad facility at Hubbard Park. The bond serves as a guarantee that the contractor will promptly and faithfully perform all work in accordance with the contract terms and conditions. The project encompasses the complete construction of a splash pad facility, including site preparation, earthwork, water distribution piping, storm drainage systems, and equipment installation. Deliverables include a custom castle water play structure with 10 water nozzles (75.50 gallons per minute capacity), a concrete splash zone of approximately 3,384 square feet, integrated plumbing and electrical systems with automated timer controls, a rain garden drainage system, and native plant landscaping. A mandatory pre-bid meeting is scheduled for April 1, 2026 at 10:00 a.m. at Hubbard Park Pool Parking Area (999 West Main Street, Meriden, CT 06451). Questions must be submitted by April 17, 2026 at 4:00 p.m., with sealed electronic bids due April 24, 2026 at 11:00 a.m. through the OpenGov eProcurement Portal. Bids must remain open for ninety days following bid opening with no withdrawal permitted during this period. All work must comply with Connecticut Department of Transportation Standard Specifications, relevant ASTM standards, and piping systems must pass hydrostatic testing at 1.5 times working pressure.
The performance bond amount equals one hundred percent of the contract price. Additional bonding requirements include a Bid Bond of ten percent of the bid amount and a Labor and Material Payment Bond equal to one hundred percent of the contract price. The project is funded through the federal Community Development Block Grant program and is subject to Davis-Bacon prevailing wage requirements and the Build America Buy America Act domestic content preference. Connecticut prevailing wage determinations apply, with hourly rates ranging from $21.42 to $67.52 plus applicable fringe benefits. All employees must complete a 10-hour OSHA Construction Safety and Health course within 30 days of contract award, with certified weekly payroll documentation submitted monthly. Bidders must submit a completed Bidder Contract Compliance Monitoring Report addressing affirmative action and equal employment opportunity practices. Required insurance includes Commercial General Liability of $1,000,000 per occurrence and $2,000,000 aggregate, Business Automobile Liability of $1,000,000 combined single limit, and Workers' Compensation at Connecticut statutory limits with $1,000,000 Employers' Liability limits. The sample contract indicates a lump-sum fee structure of $30,000.00 with monthly progress payments subject to five percent retainage, though the actual contract award value has not been disclosed.
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Text version
PERFORMANCE BOND
KNOW ALL MEN BY THESE PRESENTS, that (here insert full name and address or legal title of Contractor) as Principal herinafter called contractor and (here insert full name and address or legal title of Surety
As Surety, hereinafter called Surety, are held and firmly bound unto (here insert full name and address or legal title of Owner)
As Obligee, hereinafter called Owner, in the amount of
Dollars $___________________________ for the payment whereof Contractor and Surety bind themselves, their heirs, executors, administrators, successors and assigns, jointly and severally, firmly by these presents.
WHEREAS,
Contractor has by written agreement dated 20 , entered into a contract with Owner for (here insert full name, address and description of project)
In accordance with Drawings and Specifications prepared by (here insert full name and address or legal title of Engineer/Architect)
Which contract is by reference made a part hereof, and is hereinafter referred to as the Contract.
PERFORMANCE BOND
NOW, THEREFORE, THE CONDITION OF THIS OBLIGATION is such that, if Contractor, shall promptly and faithfully perform said Contract, then this obligation shall be null and void; otherwise it shall remain in full force and effect.
The Surety hereby waives, notice of any alteration or defaults, under the contract or contracts of completion extension of time made by the Owner. arranged under this paragraph sufficient funds to pay the cost of completion less the balance of the contract price;
Whenever Contractor shall be, and declared by Owner but not exceeding, including other costs and damages to be in default under the Contract, the Owner having for which the Surety may be liable hereunder, the amount performed Owner’s obligations thereunder, the surety set forth in the first paragraph hereof. The term “balance may promptly remedy the default, or shall promptly of the contract price,” as used in this paragraph, shall mean the total amount payable by Owner to Contractor
1) Complete the Contract in accordance with its terms under the Contract and any amendments thereto, less and conditions, or the amount properly paid by Owner to Contractor.
2) Obtain a bid or bids for completing the Contract in Any suit under this bond must be instituted before accordance with its terms and conditions, and upon de- the expiration of two (2) years from the date on which termination by Surety of the lowest responsible bidder, final payment under the Contract falls due.
or, if the Owner elects, upon determination by the Owner and the Surety jointly of the lowest responsible No right of action shall accrue on this bond to or for bidder, arrange for a contract between such bidder and the use of any person or corporation other than the Owner, and make available as Work progresses (even Owner named herein or the heirs, executors, adminis-though there should be a default of a succession of trators or successors of the Owner.
Signed and sealed this day of 20
(Principal) (Witness) (Title)
(Surety) (Witness) (Title)
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