Get the free APPENDIX 4.01 Bid Bond and Bid Form - Oregon State University - bid oregonstate

OREGON UNIVERSITY SYSTEM NOTICE OF PUBLIC IMPROVEMENT CONTRACT OPPORTUNITY For OUT Retainer Contractors Portland State University is accepting sealed bids from general contractors for the West Heating

How to fill out appendix 401 bid bond

How to fill out appendix 401 bid bond

1. To fill out appendix 401 bid bond, follow these steps:
2. Read the bid bond form carefully to understand the requirements and instructions.
3. Fill in the name and contact details of the principal (the party submitting the bid).
4. Provide the name and contact details of the surety (the party providing the bid bond guarantee).
5. Specify the contract amount for which the bid bond is being provided.
6. Enter the name of the project or contract for which the bid is being submitted.
7. Include the bid bond amount, which is usually a percentage of the contract amount.
8. Sign and date the appendix 401 bid bond form.
9. Make sure to attach any necessary supporting documents or certificates as required.
10. Submit the completed and signed bid bond form to the relevant authority or organization.

Who needs appendix 401 bid bond?

1. Appendix 401 bid bond is typically needed by parties that are participating in bidding processes for construction or infrastructure projects.
2. These parties may include contractors, subcontractors, or suppliers who are required to provide a bid bond as a guarantee of their commitment to perform the contract if awarded.
3. Government agencies, project owners, or organizations issuing the bids usually require the bid bond from potential bidders as part of the bidding process.

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What is appendix 401 bid bond?

Appendix 401 bid bond is a form of security provided by bidders to guarantee that they will fulfill their obligations under a contract.

Who is required to file appendix 401 bid bond?

Bidders participating in a specific procurement process are required to file the appendix 401 bid bond.

How to fill out appendix 401 bid bond?

To fill out the appendix 401 bid bond, bidders must provide information such as the bid amount, bond amount, and relevant contact details.

What is the purpose of appendix 401 bid bond?

The purpose of appendix 401 bid bond is to protect the procuring entity against financial loss in case the selected bidder fails to meet their obligations.

What information must be reported on appendix 401 bid bond?

Information such as bid amount, bond amount, bidder's details, and contact information must be reported on the appendix 401 bid bond.