SF-24_Bid_Bond.pdf

PDF 141 KB Posted Aug 15, 2024

Attached to: GAOA BEEHIVE BEND BOAT TAKEOUT & WALKWAY
Solicitation number: 140L2624R0009
Issued by: Department of the Interior Bureau of Land Management Idaho Region

About this file

Written by GovTribe AI · Aug 15, 2024

This document is a Standard Form 24 Bid Bond. It is a type of surety bond that guarantees the bidder will enter into the contract and provide required performance and payment bonds if their bid is accepted. The bid bond obligates the principal (the bidder) and the surety (the insurance company) to pay a penal sum to the government if the principal fails to execute the contract documents and provide the required bonds after their bid is accepted. The bond remains in effect for 60 days after bid submission, unless a different period is specified. The document outlines the conditions under which the bond obligation is void, such as if the principal executes the contract and provides the required bonds within the specified timeframe.

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Site_Tour_Questions_and_Answers_0001.pdf	PDF	Sep 8, 2024
Sol_140L2624R0009_Amd_0001.pdf	PDF	Sep 8, 2024
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GAOA_Beehive_Bend_Take-Out_Specification.pdf	PDF	Aug 15, 2024

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INSTRUCTIONS

1. This form is authorized for use when a bid guaranty is required. Any deviation from this form will require the written approval of the Administrator of General Services.

2. Insert the full legal name and business address of the Principal in the space designated "Principal" on the face of the form. An authorized person shall sign the bond. Any person signing in a representative capacity (e.g., an attorney-in-fact) must furnish evidence of authority if that representative is not a member of the firm, partnership, or joint venture, or an officer of the corporation involved.

3. The bond may express penal sum as a percentage of the bid price. In these cases, the bond may state a maximum dollar limitation (e.g., 67$1'$5'�)250��5(9��%$&.

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(e.g., 20% of the bid price but the amount not to exceed dollars).

4. (a) Corporations executing the bond as sureties must appear on the Department of the Treasury's list of approved sureties and must act within the limitation listed therein. where more than one corporate surety is involved, their names and addresses shall appear in the spaces (Surety A, Surety B, etc.) headed "CORPORATE SURETY(IES)." In the space designed "SURETY(IES)" on the face of the form, insert only the letter identification of the sureties.

(b) Where individual sureties are involved, a completed Affidavit of Individual surety (Standard Form 28), for each individual surety, shall accompany the bond. The Government may require the surety to furnish additional substantiating information concerning its financial capability.

5. Corporations executing the bond shall affix their corporate seals. Individuals shall execute the bond opposite the word "Corporate Seal";

and shall affix an adhesive seal if executed in Maine, New Hampshire, or any other jurisdiction requiring adhesive seals.

6. Type the name and title of each person signing this bond in the space provided.

7. In its application to negotiated contracts, the terms "bid" and "bidder" shall include "proposal" and "offeror."

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File details come from the government source that posted it. Updated Aug 15, 2024.