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STATE OF ALASKA DEPARTMENT OF NATURAL RESOURCES DIVISION OF PARKS AND OUTDOOR RECREATIONPROPOSAL, CONTRACT, BOND AND SPECIAL PROVISIONS Moon Lake SRS Facility Improvement Project No. 764501COPY TABLE
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Contractors or construction companies who are bidding for government or private projects often need a proposal contract bond.
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Organizations or individuals who require assurance that the contractor will fulfill the terms of the contract may also request a proposal contract bond.
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A proposal contract bond is a type of surety bond that guarantees that if a bidder is awarded a contract, they will enter into the contract and provide the required performance and payment bonds.
Contractors or construction companies bidding on public construction projects are typically required to file a proposal contract bond.
To fill out a proposal contract bond, the bidder must contact a surety bond company, provide the necessary information and documentation, and pay the premium.
The purpose of a proposal contract bond is to protect the project owner in case the bidder awarded the contract fails to enter into the contract or provide the required performance and payment bonds.
The proposal contract bond typically includes the name of the bidder, the name of the project owner, the bid amount, and the project location.
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