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The Principal and Surety(IES) executed this bid bond and affixed their seals on the above date. STANDARD FORM 24 (REV. 10 98). Prescribed by GSA FAR (48 ...

How to fill out bid bond

How to fill out bid bond:

1. Obtain the bid bond form from the bonding company or download it from their website.
2. Fill in the required information accurately, including the name of the project, the bid amount, and the bid date.
3. Provide your business information, such as the name of your company, address, contact details, and tax identification number.
4. Include any additional information requested on the form, such as references, financial statements, or previous bonding experience.
5. Review the completed bid bond form for any errors or missing information. Make sure all fields are filled out correctly.
6. Sign the bid bond form, either electronically or with a handwritten signature, depending on the requirements of the bonding company.
7. Submit the bid bond form along with your bid documents to the project owner or the appropriate authority before the bid deadline.

Who needs bid bond:

1. Contractors or construction companies who are bidding on public or private construction projects may be required to provide a bid bond.
2. Government agencies, municipalities, and project owners often require bid bonds to ensure that contractors have the financial capability to perform the work if awarded the project.
3. Bid bonds also provide assurance to the project owner that the contractor will enter into a contract if they are selected as the winning bidder and will provide the required performance and payment bonds.

Note: The specific requirements for bid bonds may vary depending on the project and jurisdiction. It is important to carefully review the bidding documents and consult with the project owner or bonding company for any specific instructions or additional requirements.

For pdfFiller’s FAQs

What is bid bond?

A bid bond is a type of surety bond provided by a bidder as a guarantee that if they win a bid, they will enter into a contract and provide the required performance and payment bonds.

Who is required to file bid bond?

Contractors and bidders participating in public procurement processes are typically required to file a bid bond.

How to fill out bid bond?

Bid bonds can be filled out by contacting a surety company or bonding agency, providing necessary information, and paying a premium.

What is the purpose of bid bond?

The purpose of a bid bond is to ensure that the bidder is serious about the bid and will fulfill their obligations if selected.

What information must be reported on bid bond?

Bid bonds typically require information such as the bid amount, project details, bidder's financial information, and the bidder's signature.

Can I create an eSignature for the bid bond in Gmail?

Use pdfFiller's Gmail add-on to upload, type, or draw a signature. Your bid bond and other papers may be signed using pdfFiller. Register for a free account to preserve signed papers and signatures.

How do I fill out the bid bond form on my smartphone?

Use the pdfFiller mobile app to fill out and sign bid bond on your phone or tablet. Visit our website to learn more about our mobile apps, how they work, and how to get started.

How do I complete bid bond on an iOS device?

Download and install the pdfFiller iOS app. Then, launch the app and log in or create an account to have access to all of the editing tools of the solution. Upload your bid bond from your device or cloud storage to open it, or input the document URL. After filling out all of the essential areas in the document and eSigning it (if necessary), you may save it or share it with others.