Sample_Performance_Bond.pdf
PDF 129 KB Posted
- Attached to
- B027-12 Engine #2 Tank Removal
- Solicitation number
- B027-12
- Issued by
- New Haven County, Connecticut
About this file
This is a Performance Bond template document related to the City of Meriden, Connecticut's bid solicitation for fuel tank removal services at Engine Co #2, located at 168 Chamberlain Highway, Meriden, CT 06451. The bond secures the contractor's obligation to promptly and faithfully perform the contract work, which includes removal, decontamination, and disposal of an underground storage tank, associated piping, and ancillary equipment, followed by backfilling and restoration/seeding of the affected area. The contractor must develop, implement, maintain, and supervise a comprehensive tank removal plan based on work experience and state guidance. Bidders must demonstrate a minimum of two years of tank removal experience and possess certification from the State of Connecticut for tank removal work.
The Performance Bond establishes the surety's liability for contract completion, with the bond amount to be specified in the contract award. Should the contractor default, the owner may either complete the contract directly or solicit bids from responsible contractors to complete the work, with the surety responsible for costs exceeding the remaining contract balance. The bond requires that any legal action be initiated within two years from the date final payment is due. The bond applies solely to the named owner and does not create rights of action for third parties. Specific pricing terms, contract duration, and award dates are not detailed in this bond template but would be established within the primary contract documents and bid solicitation materials.
View the file
Other files
| File | Type | Posted |
|---|---|---|
| B027-12_Engine_#2_Tank_Removal.pdf | ||
| General_Insurance.pdf | ||
| EJCDC_General_&_Supplemental.pdf | ||
| Sample_Payment_Bond.pdf | ||
| CMG_Report_1-26.pdf | ||
| Construction_Contract-Sample.pdf | ||
| TradeBe_Report.pdf | ||
| Eng_#2_Tank_Removal_Drawing.pdf | ||
| CHRO_ChecklistforMunicipalities.pdf | ||
| Professional_Serv_Agreement-Sample.pdf | ||
| HOLD_for_prevailing_wage.docx | DOCX document | |
| Prevailing_Wage_Info_Packet.pdf | ||
| School_Insurance.pdf |
Show all 13
On GovTribe
Work with this file
- Download the original file
- Contacts named in this file
- Similar government files
- Ask GovTribe AI about this file
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)
File details come from the government source that posted it. Updated .