SOLICITATION_BOND.pdf
PDF 109 KB Posted
- Attached to
- DNR RFB Gitch-Gami Bridge Decking Replacement
- Solicitation number
- 2000016850
- Issued by
- Lac Qui Parle County, Minnesota
About this file
The document is a Solicitation Bond template issued by the State of Minnesota's Department of Administration for construction and maintenance contract responses. This standard form is designed to accompany bid submissions, requiring bidders to provide a bond equal to 5% of their bid amount as a financial guarantee. The bond protects the state by ensuring that if a bidder is awarded a contract, they will enter into the agreement and provide required performance bonds within the specified timeframe.
The bond's primary purpose is to mitigate potential financial risks to the state if a selected contractor fails to follow through on their bid commitment. If the principal (bidder) does not execute the contract or provide the necessary performance bonds after being awarded the contract, they and the surety will be obligated to pay the state 5% of the bid amount as liquidated damages. The document includes acknowledgment sections for different types of business entities, including individuals, partnerships, limited liability companies, and corporations, to facilitate proper execution and notarization of the bond.
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Other files
| File | Type | Posted |
|---|---|---|
| 2025_686_Bid_specs.pdf | ||
| DNR_RFB_Gitch-Gami_Bridge_Decking_Replacement.pdf | ||
| Attachment_A-_First_Tier_Subcontractors_List.pdf |
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Text version
SOLICITATION BOND
STATE OF MINNESOTA
DEPARTMENT OF ADMINISTRATION
SOLICITATION BOND TO ACCOMPANY CONSTRUCTION
AND MAINTENANCE RESPONSES
KNOW ALL MEN BY THESE PRESENTS, that we as Principal, and as Surety, are held and firmly bound unto the State of Minnesota as Obligee, in the sum of 5% of the bid amount for the payment of which sum well and truly to be made, we bind ourselves, our heirs, executors, administrators, successors and assigns, jointly and severally, and firmly by these presents.
Dated this ____ day of _________ A. D. 20____.
The condition of this obligation is such that whereas the Principal has submitted the accompanying response for the articles described in Solicitation # & Solicitation Name
NOW, THEREFORE, if the aforesaid Principal shall be awarded a contract upon said response, and shall within the required number of days after the notice of such award, enter into a contract with the State of Minnesota, and give bond for the faithful performance of the contract as may be required, then this obligation shall be null and void; otherwise the Principal and Surety will pay unto the Obligee the sum of 5% of the bid amount not as a penalty, but as liquidated damages sustained by the State of Minnesota as a result of such failure.
Principal
Signature
Title
Surety
Attorney-in-fact
INDIVIDUAL AND CO-PARTNERSHIP ACKNOWLEDGMENT
STATE
COUNTY
On this day of , 20 before me personally appeared to me known to be the person(s) described in and who executed the foregoing bond, and acknowledged that he/she/they executed the same as a free act and deed.
(Notarial Seal) (Notary Signature)
LIMITED LIABILITY COMPANY ACKNOWLEDGMENT FOR PRINCIPAL
COUNTY
On this day of , 20 before me appeared and , to me personally known, who being by me duly sworn, did say that they are respectively and of , a Limited Liability
Company; and that said instrument was executed on behalf of the Limited Liability Company by authority of its
Management Committee; and they acknowledged said instrument to be the free act and deed of the Limited
Liability Company.
CORPORATE ACKNOWLEDGMENT FOR PRINCIPAL
COUNTY
On this day of , 20 before me appeared and , to me personally known, who being by me duly sworn, did say that they are respectively and of , a Corporation; and that said instrument was executed on behalf of the Corporation by authority of its Board of Directors; and they acknowledged said instrument to be the free act and deed of the Corporation.
AFFIX HERE ACKNOWLEDGMENT OF CORPORATE SURETY
The form of this bond has been prescribed by the Commissioner of Administration and approved by the Attorney General of Minnesota.
Full Name of Surety Co.
Home Office Address (Street)
City, State and ZIP Code
Name of Attorney-in-fact
Name of Local Agency
Address of Local Agency (Street)
City, State and Zip Code
File details come from the government source that posted it. Updated .