DOCUMENT

FORM - Bond Form

  • ENTITY TYPE: County
  • TYPE OF DOCUMENT: FORM - Form
The document is an exhibit of a bid bond between a principal and a surety for a construction project in Polk County, Florida. The principal is submitting or has submitted a bid proposal to the county and wants to file this bond instead of a certified bidder's check. The bond states that if the bid proposal is accepted, the principal must execute a contract within ten days and provide a public construction bond in the amount of 100% of the total contract price. If the principal fails to comply with these requirements, the surety will pay the county the amount of the bond as liquidated damages. The bond also mentions that if the numerical expression of the bond amount is omitted or expressed as less than 5% of the total bid price, it will be assumed to be erroneously stated and the bond will be binding for 5% of the total bid price. The document includes spaces for signatures and witnesses for both the principal and the surety. It also notes that bonds signed by an agent must be accompanied by a certified copy of the agent's authority to act, and attorneys-in-fact who sign bid bonds or contract bonds must include a certified and dated copy of their power of attorney.
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