Standard Form 24 - Bid Bond.pdf
Standard Form PDF 152 KB Posted
- Attached to
- Monument Sign - Natick Soldiers Systems Center
- Solicitation number
- W911QY-26-R-MONU
About this file
This is Standard Form 24 (Rev. 10/2023), a Bid Bond form used in federal contracting with OMB Control Number 9000-0001 and an expiration date of 1/31/2027.
The form serves as a financial guarantee that binds a Principal (bidder) and Surety(ies) to the United States Government. The Principal and Surety(ies) agree that if the Principal fails to execute further contractual documents as required by the bid terms, or fails to provide required performance bonds, the Government may procure the work at the Principal's expense, and the Surety will pay any costs exceeding the bid amount. The bond obligates the Principal and Surety(ies) to pay the penal sum specified if the Principal does not accept the bid within the timeframe stipulated (sixty days if no period is specified, or ten days after receipt of forms if a period is specified). The form accommodates single or multiple corporate sureties, individual sureties, and joint and several liability arrangements. Instructions require the Principal's full legal name and business address; authorized signatories must provide evidence of authority if not corporate officers. The bond may express the penal sum as a percentage of the bid price (typically 20 percent) or as a fixed dollar amount. Individual sureties must be accompanied by an Affidavit of Individual Surety (Standard Form 28) certifying financial capability. Corporations must affix corporate seals and appear on the Department of Treasury's approved sureties list. All signatories must type their names and titles in the spaces provided.
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| State | Files |
|---|---|
| Montana | 1 |
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