Business Assistant/Business Assistant.iso/legal/gde757_1/lharc1.exe/2550.BLD

Text File | 1993-01-06 | 1.5 KB | 50 lines

#2550
@001 Please enter the name of the contractor:
@255 Please enter the city, state of residence of contractor:
@002 Please enter the name of the surety:
@256 Please enter the city, state of residence of contractor:
@003 Please enter the name of the owner:
@257 Please enter the city, state of residence of contractor:
@258 Please enter the sum of the bond in numerals:
@259 Please enter the sum of the bond in words:
#end control section
#2550
/* Para. 2550: Bid Bond */

                             BID BOND


@001, referred to as BIDDER, of @255, and @002, referred to as
SURETY, of @256, are bound to @003, of @257, referred to as
OBLIGEE, in the sum of $@258, (@259 Dollars), referred to as the
penal sum for the payment of this sum we bind ourselves and our
legal successors.


If OBLIGEE accepts the bid of BIDDER, and BIDDER enters into a
contract with OBLIGEE in accordance with the invitation to bid,
and further, give such performance bonds as may be required, then
this obligation shall be void, otherwise the same shall remain in
full force and effect. Provided, however, that upon the failure
of the BIDDER to enter into the contract as described above, the
BIDDER shall pay either the difference between the bid submitted
by BIDDER and any larger amount which OBLIGEE may in good faith
contract to perform the work, or the penal sum, whichever is
lesser.


DATED: __________________




______________________________________________
 @001





______________________________________________
 @002