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Appendix A Form of Bid Bond The form of bond is provided in this appendix. A Potential Bidder providing financial security with a bond must arrange that the financial institution submit it either
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How to fill out form of bid bond

01
Start by reading the instructions on the bid bond form carefully.
02
Enter the name and address of the principal, who is usually the contractor or bidder.
03
Fill in the name and address of the obligee, who is the party requesting the bid bond.
04
Specify the amount of the bid bond, usually a percentage of the bid amount.
05
Provide the effective date of the bid bond, which is typically the date of execution.
06
Include the signature of the principal and any required witnesses.
07
Submit the completed bid bond form to the obligee or their designated representative.

Who needs form of bid bond?

01
Anyone participating in a bidding process for a construction project or public contract may need a form of bid bond. This can include contractors, subcontractors, and suppliers.

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A form of bid bond is a financial guarantee that a bidder submits along with their proposal to ensure that they will enter into a contract if awarded the project.
Typically, contractors or bidders who are submitting proposals for construction or public works contracts are required to file a form of bid bond.
To fill out a form of bid bond, one must provide details such as the name of the contractor, the amount of the bond, the project details, and signatures from both the contractor and the surety company.
The purpose of a form of bid bond is to protect the project owner by ensuring that the bidder is serious about their offer and will follow through with the contract if they are awarded the job.
The form of bid bond must report information including the bid amount, contract details, surety company information, and signatures from both the bidder and the surety.
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