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FORM OF BID BOND KNOW ALL PERSONS BY THESE PRESENTS THAT ___ ___as (Print full name and address or legal title of Contractor)Principal, and___, (Print full name and address of Surety Company)as surety,

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How to fill out form of bid bond

01

Step 1: Read through the form of bid bond to understand the requirements and instructions.

02

Step 2: Begin by filling out the top section of the form, which includes the project name, bid bond amount, and the name and contact information of the bidder.

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Step 3: Provide the bid bond number or reference, if applicable.

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Step 4: Fill out the financial information section, including the name of the bank providing the bond and their contact details.

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Step 5: Enter the bid amount and the date of the bid.

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Step 6: Review the terms and conditions mentioned in the form and make sure you understand them before signing the document.

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Step 7: Sign and date the form to acknowledge your agreement with the terms and conditions.

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Step 8: Attach any required supporting documents, such as a bank guarantee or letter of credit, if specified.

09

Step 9: Make a copy of the completed form for your records.

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Step 10: Submit the filled-out form of bid bond as per the instructions provided, either by mail, email, or in person.

Who needs form of bid bond?

01

Construction companies or contractors who are participating in a bidding process for a construction project often need to fill out a form of bid bond.

02

Government agencies or private organizations that require bidders to provide a bid bond as a form of financial assurance for the project also need this form.

03

Individuals or companies who want to be considered as a potential bidder for a project and have been asked to submit a bid bond may also need to fill out this form.

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What is form of bid bond?

The form of bid bond is typically a document provided by a surety company and submitted by a bidder to guarantee that if they win a bid, they will enter into a contract and provide the required payment and performance bonds.

Who is required to file form of bid bond?

Contract bidders or contractors are required to file a form of bid bond when submitting a bid for a project.

How to fill out form of bid bond?

The form of bid bond typically requires the bidder to provide information such as the project name, bid amount, contractor's information, and the surety company's information.

What is the purpose of form of bid bond?

The purpose of the form of bid bond is to provide assurance to the project owner that the winning bidder will fulfill their obligations under the contract.

What information must be reported on form of bid bond?

The form of bid bond must include details such as the bid amount, project name, bidder's information, and the surety company's information.

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