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GENERAL CONTRACTOR BID TABULATION FORM PROJECT TITLE: BID OPENING DATE: TIME: LOCATION: OPENED BY: *RELATED TO:BIDDER:BID BOND: AMOUNT: (1) REC CD ADDENDA: BASE BID:PROJECT LOCATION: AGENCY: FUNDING:

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How to fill out bid bond

01

Obtain the bid bond form from the issuing institution or surety company.

02

Fill out the applicant's information, including name, address, contact details, and business information.

03

Provide the project details, including the name, location, and description of the project.

04

Specify the bid amount and any alternates or options, if applicable.

05

Include the bid bond amount, which is typically a percentage of the bid amount.

06

Sign and date the bid bond form, certifying that all information provided is accurate and complete.

07

Submit the completed bid bond form to the issuing institution or surety company.

08

Pay any required fees or premiums associated with obtaining the bid bond.

09

Retain a copy of the bid bond for your records.

Who needs bid bond?

01

Contractors or construction companies who want to bid on public or private projects typically need a bid bond.

02

Government agencies or project owners often require bid bonds to ensure that contractors have the financial capacity and capability to fulfill their obligations.

03

Bid bonds provide assurance to the project owner that, if the winning contractor fails to enter into a contract or fails to provide the required performance and payment bonds, the bid bond amount can be used to cover any resulting costs or damages.

04

Therefore, anyone who wishes to participate in the bidding process for construction projects may need a bid bond.

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What is bid bond?

A bid bond is a type of security provided by a bidder on a construction project to guarantee that the bidder will enter into a contract if their bid is accepted.

Who is required to file bid bond?

Contractors or construction companies participating in a bidding process are typically required to file a bid bond.

How to fill out bid bond?

To fill out a bid bond, a bidder must provide information such as the project name, bid amount, contractor information, and a signed agreement to comply with the terms of the bond.

What is the purpose of bid bond?

The purpose of a bid bond is to provide assurance to the project owner that the winning bidder will enter into a contract and perform the work as agreed.

What information must be reported on bid bond?

Information such as project details, bid amount, contractor details, and a guarantee to fulfill the obligations of the bid bond must be reported on the bid bond.

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