Volusia_Performance_Bond_Sample_Form(492423).pdf

PERFORMANCE BOND

CONTRACTOR SURETY OWNER

[name]

[principal business address]

[phone number]

County of Volusia

123 W. Indiana Avenue

DeLand, FL 32720

386-736-5920

PROJECT NAME: _____________________________________

COUNTY CONTRACT NO.: RFP #

PROJECT DESCRIPTION: Provision of ______________ to the County of Volusia (“Project”)

BY THIS BOND, We , as Principal

(hereafter referred to as “Contractor”, and (hereafter referred to as “Surety”), under the assigned Bond Number , are bound to

County of Volusia as Obligee (hereafter referred to as “County”), in the amount of

Dollars ($ ) for the payment whereof Contractor and Surety bind themselves, their heirs, executors, administrators, successors and assigns, jointly and severally.

THE CONDITION OF THIS BOND is that if Contractor:

1. Performs the written contract dated ________between Contractor and County, Bid/Contract No.

[RFP ___________] (hereafter “Contract”) including all related documents and exhibits (hereafter collectively referred to as the "Contract Documents") which are by reference incorporated herein and made a part hereof, including any and all provisions for liquidated damages, and other damages identified, and for the purposes of this Bond, in the time and manner prescribed in the Contract;

and

2. Pays County all losses, liquidated damages, expenses, costs and attorneys’ fees (including those arising from appellate proceedings) that County sustains as a result of default by Contractor under the Contract; and,

3. Performs the guaranties of all work, services, and materials furnished under the Contract for the time specified in the Contract; then THIS BOND IS VOID, OTHERWISE IT REMAINS IN FULL

FORCE AND EFFECT.

Whenever Contractor shall be, and is declared by County to be, in default under the Contract Documents, County having performed County's obligations thereunder, Surety, at its expense, agrees to promptly remedy the default, upon written demand to Surety from the County of said default, by:

1. Repaying to and reimbursing County, promptly upon demand, all sums of money, including reasonable attorneys’ fees, professional services and any damages, direct or indirect, or consequential, reasonably incurred, paid out or expended by the County; or

2. Completing the required performance in accordance with the terms and conditions of the Contract with a qualified contractor and repaying to and reimbursing County, promptly upon demand, all sums of money, including reasonable attorneys’ fees, professional services and any damages, direct or indirect, or consequential, reasonably incurred, paid out or expended by the County; or

3. Obtaining a solicitation or solicitations for completing the Project in accordance with the terms and conditions of the Contract Documents and County’s ordinances and Purchasing and Contracts Policies and Procedures, and arranging for a contract between a subsequent and qualified contractor and

County on the same terms and conditions as the Contract Documents unless otherwise agreed by

County, under the contract or contracts for the Project completion arranged under this paragraph with sufficient funds to pay the cost of Project completion or performance, including other costs and damages for which the Surety may be liable hereunder, the amount set forth in the first paragraph hereof.

No right of action shall accrue on this bond to or for the use of any person or corporation other than the

County of Volusia named herein.

Any changes (including extension of time or alteration or addition of terms to the Contract) and compliance or noncompliance with any formalities connected with the Contract or the changes does not affect Surety’s obligation under this bond, and Surety does hereby waive notice of any such change to the terms of the Contract or to the work or service in the scope of services or specifications in the Contract.

Contractor and Surety expressly acknowledge that any and all provisions relating to consequential, delay, and liquidated damages contained in the Contract are expressly covered by and made a part of this

Performance Bond. Contractor and Surety acknowledge that any such provisions lie within their obligations and within the policy coverage and limitations of this instrument.

IN TESTIMONY WHEREOF, witness the hands and seals of the parties hereto this __________ day of ________________, 20__.

(If sole Ownership or Partnership, two (2) Witnesses required).

(If Corporation, Secretary only will witness/attest and affix seal).

[TYPE LEGAL NAME OF

CONTRACTOR]

By: _____________________________

Title: _____________________________

Print Name:

WITNESS: WITNESS:

Corporate Secretary or Witness Print Name: _______________________

Print Name: _______________________

(affix corporate seal)

[Name of Corporate Surety]

B_______________________________

ATTORNEY-IN-FACT

Print Name:

(affix corporate seal)

(Power of Attorney must be attached)

A.M. Best

No.:__________________________

NAIC

No.:_____________________________