BID BOND. A Bid, Payment and Performance Bond are a requirement when the offer/contract amount exceeds $100,000. Respondents shall attach an electronic copy of their bid bond for responsiveness. Submission of the bid bond, along with a certified and effectively dated copy of the power of attorney, shall be completed and signed by all required parties and submitted on the form provided in the solicitation. Submittal of a bid bond less than 10% of the total estimated contract amount for base period, shall result in the bid being deemed non-responsive. In order to be acceptable to the County, the Surety company issuing the Bid Bond shall meet and comply with the minimum standards described in #Bond Requirements, “Qualifications of Surety Companies”. Failure to submit a Bid Bond from a Surety Company meeting these minimum standards shall result in rejection of the offer.
Appears in 4 contracts
Samples: Contract for Demolition Services, Traffic Sign Installation Services, Contract
