Bid Bond Checklist Sealed Bid.pdf

Checklist for Bid Bond for Solicitation #

Please enter “Y”, “N”, or “N/A” and write notes in the margin if necessary. CT JAG

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?

NGB April 2020 C-45

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 being forwarded to the Office Counsel? ............................................................ ( ) ( )

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? ................................... ( ) ( )

JAG Name and Contract Specialist's Name Phone No. and Phone No.

NGB April 2020 C-46