SF24 Bid Guarantee.pdf
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This document is a Standard Form 24 (SF 24) Bid Bond template authorized for use when a bid guarantee is required in federal procurement transactions.
The form serves as a financial guarantee submitted by bidders to ensure good faith participation in competitive solicitations. Key elements include: the bond identifies the Principal (bidder), Surety(ies), and the Government as obligee; the penal sum of the bond is expressed as a dollar amount or percentage of the bid price, with a maximum dollar limitation option; the bond becomes void upon the Government's acceptance of the bid within the specified period and receipt of required contractual documents and bonds. The form accommodates multiple signatories including individual principals, corporate principals with seals, individual sureties with completed affidavits (Standard Form 28), and corporate sureties appearing on the Department of Treasury's approved surety list with specified liability limits. Instructions specify that corporations must affix corporate seals, individuals must execute bonds opposite the word "Corporate Seal" and affix adhesive seals if required by jurisdiction, and authorized representatives must furnish evidence of authority. The form is prescribed by GSA under FAR 48 CFR 53.228(a), with an OMB control number of 9000-0045, and any deviations require written approval from the Administrator of General Services.
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