Bid Bond - State Of Ohio Department Of Transportation printable pdf download

BID BOND

STATE OF OHIO

DEPARTMENT OF TRANSPORTATION

(SEC. 552501 R.C.)

KNOW ALL MEN BY THESE PRESENTS,

That we __________________________________________________________________________________________________

__________________________________________________________________________________________________________________

as PRINCIPAL, and __________________________________________________________________________________________________

__________________________________________________________________________________________________________________

As SURETY, are held and firmly bound unto the State of Ohio, hereinafter called the State, in the penal sum of TEN PERCENT (10%) OF THE TOTAL

AMOUNT OF THE BID of the Principal above named, submitted by said Principal to the State of Ohio, Department of Transportation, for the work

described below, for the payment of which sum in lawful money of the United Sates, well and truly to be made, we bind ourselves, our heirs, executors,

administrators and successors, jointly and severally, firmly by these presents.

IN NO CASE SHALL THE LIABILITY OF THE SURETY HEREUNDER EXCEED THE SUM OF

_______________________________________________________________________________________________________________

(Fill in only if Surety requires limitation other than the above 10%)

THE CONDITION OF THIS OBLIGATION IS SUCH,

That whereas the Principal has submitted the above-mentioned bid to the State of Ohio, Department of Transportation,

for the construction of Project No. ________, 20____, ______________________________________________________________________

County

Route

Section

NOW, THEREFORE, if the aforesaid Principal is awarded the contract and, within the time and manner required by law, after the prescribed

forms are presented to him for signature, enters into a written contract, in the prescribed forms, in accordance with the bid, and files the bond with the

Department, to guarantee faithful performance and payment for labor and materials, as required by law, then this obligation shall be null and void;

otherwise, it shall be and remain in full force and effect.

In the event suit is brought upon this bond by the Obligee and judgement is recovered, the surety shall pay all costs incurred by the Obligee

in such suit, including a reasonable attorney’s fee to be fixed by the court.

Signed this ______________ day of _________________________, 20____

In presence of

__________________________________________

Principal

_______________________________

BY _______________________________________

Witness

__________________________________________