Get the free BID BOND - Dayton Metropolitan Housing

BID BOND Page 1 of 2 KNOW ALL MEN BY THESE PRESENTS, That we as PRINCIPAL, and As SURETY, are held and firmly bound unto Dayton Metropolitan Housing Authority, hereinafter called the PHA, in the sum

How to fill out bid bond - dayton

1. To fill out a bid bond in Dayton, you will first need to gather the necessary information and documents. This may include the bid specifications, contract documents, and any other relevant materials.
2. Start by identifying yourself and your company. Provide your legal business name, address, and contact information. If you have a business license or registration number, include that as well.
3. Include the project information. This includes the name of the project, the project owner or agency, and the bid date. Make sure to double-check the accuracy of these details, as any errors may invalidate the bond.
4. Indicate the bond amount. The bid bond is usually a percentage of the bid amount, which is generally between 5% to 10% of the total bid. Calculate this amount accurately to ensure the bond is sufficient.
5. Attach any required supporting documents. This may include a power of attorney, financial statements, or other relevant information requested by the project owner or agency. Make sure to include all requested documents to avoid delays or rejection of the bond.
6. Sign and date the bid bond form. Ensure that all required signatures are provided, both by the principal (your company) and the surety (the bonding company). Double-check all information before signing to avoid any mistakes.

Who needs a bid bond in Dayton?

1. Contractors: Contractors who are bidding on public or private construction projects in Dayton may be required to provide a bid bond. This bond serves as a financial guarantee that the contractor will enter into the contract if awarded and will provide the required performance and payment bonds.
2. Project owners or agencies: Project owners or agencies in Dayton may require bid bonds to ensure that contractors submitting bids are financially capable of undertaking the project. The bid bond provides a level of assurance that the contractor is serious about the bid and will commit to the project if selected.
3. Subcontractors: In some cases, subcontractors may also be required to provide bid bonds if they are submitting bids directly to the general contractor for a specific project in Dayton. These bid bonds serve a similar purpose and provide assurance to the general contractor that the subcontractor can fulfill their contractual obligations.

Overall, the bid bond in Dayton is an important document that helps protect the interests of both contractors and project owners during the bidding process. It ensures that the bidding process is fair and that the selected contractor is financially capable of completing the project successfully.

For pdfFiller’s FAQs

What is bid bond - dayton?

A bid bond in Dayton is a type of surety bond that ensures the bidder will enter into a contract and will provide the required payment and performance bonds if awarded the project.

Who is required to file bid bond - dayton?

Contractors or vendors participating in the bidding process for a project in Dayton are typically required to file a bid bond.

How to fill out bid bond - dayton?

To fill out a bid bond in Dayton, the contractor must contact a surety company to obtain the bond and then provide the necessary information about the project and their financial capability.

What is the purpose of bid bond - dayton?

The purpose of a bid bond in Dayton is to protect the project owner from financial loss in case the winning bidder fails to enter into a contract or provide the required bonds.

What information must be reported on bid bond - dayton?

The bid bond in Dayton typically requires information such as the bid amount, project details, contractor's financial information, and the signature of the surety company.

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