Exhibit B_Checklist for Bid Bonds.pdf
PDF 209 KB Posted
- Attached to
- B422 BREAKROOM, B300 BDOC
- Solicitation number
- W50S8R27BA002
About this file
This document is a quality assurance checklist for bid bonds submitted in response to solicitation W50S8R-27-B-A002. The checklist contains 26 items designed to verify compliance with federal contracting requirements, primarily referencing FAR 28 (Bonds and Insurance) regulations.
The checklist addresses critical bond execution requirements including verification that bonds are executed on SF 24 or SF 34 forms, that execution dates precede bid opening dates, and that principal names match exactly across all documents. It requires verification of proper organization type classification, state of incorporation, and corporate seal affixation. The checklist ensures the penal sum meets solicitation requirements (minimum 20 percent of bid price, maximum $3 million) and falls within the surety's underwriting limitations per Treasury Department Circular guidelines. Additional requirements cover surety company verification, co-surety liability limits and their total alignment with the penal sum, foreign surety commensurate statements, and power of attorney documentation including certification dates and corporate seals. The checklist includes special provisions for individual sureties requiring compliance with FAR 28.203 regarding authorized assets and escrow accounts. It mandates that all changes or corrections be initialed by both principal and surety, and requires submission of supporting documents including original signed bonds, certificates of authority, copies of SF 1442, and contract pages containing bond requirements and contractor representations clarifying the contractor's name and business type.
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Checklist for Bid Bond for Solicitation #: W50S8R-27-B-A002
Either “Y”, “N”, or “N/A”…use this for quality assurance check, prior to bond submission.
1. Are the bonds executed on SF 24 or SF 34? (FAR 28.106-1)............. ( ) ( )
2. Is the Bond Execution Date the same or earlier than the Bid
Opening Date?........................................................ ( ) ( )
3. Is the principal's name on the bond and bid/offer exactly the same? ........................................................... ( ) ( )
4. If the principal is a partnership or joint venture, are the
Partners’ names listed in the principal's block with the trade-name? ......................................................... ( ) ( )
5. Is the type of organization correctly checked on behalf of the principal? ................................................... ( ) ( )
6. Is the correct state of incorporation listed on behalf of the principal? (Check corporate seal) ........................... ( ) ( )
7. Is the surety's name exactly as listed on the Treasury
Department Circular and is its business address listed? ............. ( ) ( )
8. Does the penal sum equal the amount indicated in the solicitation provision, 52.228-1(c)? (The bid guarantee must be at least 20 percent of the bid price but less than or equal to $3 million. When the penal sum is expressed as a percentage, a maximum dollar limitation may be
9.
stated. FAR 28.101-2(b).)
Is the penal sum of the bid bond within the surety’s underwriting limitation from the latest Treasury Department Circular? ............. ( ) ( )
10. Is the solicitation number on the bond the same as the number in block 1 on Standard Form 1442? ................................... ( ) ( )
11. Did the principal execute the bond, type or print name and title beneath signature? ............................................ ( ) ( )
12. Is the corporate seal affixed to the bond on behalf of the principal and does it read the same as the name in the principal's block in the upper left hand corner of the bond form? ............................................................... ( ) ( )
13. Is the name and address of the surety company listed? ............... ( ) ( )
14. Did the surety execute the bond, type or print name and title beneath signature? ............................................ ( ) ( )
15. Is the corporate seal affixed to the bond on behalf of the surety? ............................................................. ( ) ( )
16. If co-sureties are executing, did each surety set out dollar amount assumed against penal sum of bond in block marked
Liability Limit opposite its name, and do these figures total the penal sum of the bond? .......................................... ( ) ( )
17. If the bond is executed by a foreign surety company, is the commensurate statement included with the bond? .................. ( ) ( )
18. Is an original, or a photocopy or facsimile of an original, power of attorney included with the bid bond? (Electronic, mechanically-applied and printed signatures, seals and dates on the power of attorney shall be considered original signatures, seals and dates, without regard to the order in which they were affixed. FAR 28.101-3)
19. If there is a block on the power of attorney for the penal sum of the bond, does it include the correct penal sum?
20. If the power of attorney requires an SBA Guarantee Agreement
(see 13 CFR 115), is it furnished with the power of attorney?
21. Is the Attorney-in-Fact's name on the bond the same as on the power of attorney?
22. Is the certification date on the power of attorney the same or earlier than the bond execution date?
23. Has the corporate seal been affixed on the power of attorney at the signature of the certifying officer?
24. FOR INDIVIDUAL SURETIES ONLY: Is the individual surety's name and business address listed?
a) Do bonds comply with FAR 28.203 - only authorized assets used & escrow accounts set up and attached to the bonds?
b) If real estate is used, are all of the required forms executed properly and do they comply with FAR 28.203-3?
c) Did the individual surety execute the bond and is the name typed beneath the signature?
25. HAVE ALL CHANGES OR CORRECTIONS ON THE BOND BEEN INITIALED
BY THE PRINCIPAL AND THE SURETY?
26. Are all of the following documents included?
a) original signed bonds ........................................ ( ) ( )
b) certificate of authority for principal when executed in a representative capacity?
c) copy of the solicitation/bid/proposal SF 1442................. ( ) ( )
d) copy of contract pages which contain the following:
the bond requirement (52.228-1(c)) the representations, certifications and other contractor statements clarifying the contractor's name and type of business?
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