GSA Form SF-24 Bid Bond

GSA Form STANDARD24 or the "Bid Bond" is a form issued by the U.S. General Services Administration.

Download a PDF version of the GSA Form STANDARD24 down below or find it on the U.S. General Services Administration Forms website.

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DATE BOND EXECUTED (Must not be later than bid opening
BID BOND
OMB Control Number: 9000-0045
date)
Expiration Date: 7/31/2019
(See instructions on reverse)
Paperwork Reduction Act Statement - This information collection meets the requirements of 44 USC § 3507, as amended by section 2 of the Paperwork Reduction Act of
1995. You do not need to answer these questions unless we display a valid Office of Management and Budget (OMB) control number. The OMB control number for this collection is
9000-0045. We estimate that it will take 25 minutes to read the instructions, gather the facts, and answer the questions. Send only comments relating to our time estimate, including
suggestions for reducing this burden, or any other aspects of this collection of information to: General Services Administration, Regulatory Secretariat Division (M1V1CB), 1800 F Street,
NW, Washington, DC 20405.
TYPE OF ORGANIZATION ("X" one)
PRINCIPAL (Legal name and business address)
PARTNERSHIP
JOINT VENTURE
INDIVIDUAL
CORPORATION
OTHER (Specify)
STATE OF INCORPORATION
SURETY(IES) (Name and business address)
PENAL SUM OF BOND
BID IDENTIFICATION
PERCENT
AMOUNT NOT TO EXCEED
BID DATE
INVITATION NUMBER
OF BID
MILLION(S)
THOUSAND(S)
HUNDRED(S)
CENTS
PRICE
FOR (Construction, Supplies or
Services)
OBLIGATION:
We, the Principal and Surety(ies) are firmly bound to the United States of America (hereinafter called the Government) in the above penal sum. For payment of the penal sum, we bind
ourselves, our heirs, executors, administrators, and successors, jointly and severally. However, where the Sureties are corporations acting as co-sureties, we, the Sureties, bind
ourselves in such sum "jointly and severally" as well as "severally" only for the purpose of allowing a joint action or actions against any or all of us. For all other purposes, each Surety
binds itself, jointly and severally with the Principal, for the payment of the sum shown opposite the name of the Surety. If no limit of liability is indicated, the limit of liability is the full
amount of the penal sum.
CONDITIONS:
The Principal has submitted the bid identified above.
THEREFORE:
The above obligation is void if the Principal - (a) upon acceptance by the Government of the bid identified above, within the period specified therein for acceptance (sixty (60) days if no
period is specified), executes the further contractual documents and gives the bond(s) required by the terms of the bid as accepted within the time specified (ten (10) days if no period is
specified) after receipt of the forms by the principal; or (b) in the event of failure to execute such further contractual documents and give such bonds, pays the Government for any cost
of procuring the work which exceeds the amount of the bid.
Each Surety executing this instrument agrees that its obligation is not impaired by any extension(s) of the time for acceptance of the bid that the Principal may grant to the Government.
Notice to the surety(ies) of extension(s) is waived. However, waiver of the notice applies only to extensions aggregating not more than sixty (60) calendar days in addition to the period
originally allowed for acceptance of the bid.
WITNESS:
The Principal and Surety(ies) executed this bid bond and affixed their seals on the above date.
PRINCIPAL
1.
2.
3.
SIGNATURE(S)
Corporate
(Seal)
(Seal)
(Seal)
Seal
3.
1.
2.
NAME(S) &
TITLE(S)
(Typed)
INDIVIDUAL SURETY(IES)
1.
2.
SIGNATURE(S)
(Seal)
(Seal)
1.
2.
NAME(S)
(Typed)
CORPORATE SURETY(IES)
STATE OF INCORPORATION LIABILITY LIMIT ($)
NAME &
ADDRESS
Corporate
1.
2.
SIGNATURE(S)
Seal
NAME(S) &
1.
2.
TITLE(S)
(Typed)
STANDARD FORM 24 (REV. 8/2016)
AUTHORIZED FOR LOCAL REPRODUCTION
Previous edition is NOT usable
Prescribed by GSA - FAR (48 CFR) 53.228(a)
DATE BOND EXECUTED (Must not be later than bid opening
BID BOND
OMB Control Number: 9000-0045
date)
Expiration Date: 7/31/2019
(See instructions on reverse)
Paperwork Reduction Act Statement - This information collection meets the requirements of 44 USC § 3507, as amended by section 2 of the Paperwork Reduction Act of
1995. You do not need to answer these questions unless we display a valid Office of Management and Budget (OMB) control number. The OMB control number for this collection is
9000-0045. We estimate that it will take 25 minutes to read the instructions, gather the facts, and answer the questions. Send only comments relating to our time estimate, including
suggestions for reducing this burden, or any other aspects of this collection of information to: General Services Administration, Regulatory Secretariat Division (M1V1CB), 1800 F Street,
NW, Washington, DC 20405.
TYPE OF ORGANIZATION ("X" one)
PRINCIPAL (Legal name and business address)
PARTNERSHIP
JOINT VENTURE
INDIVIDUAL
CORPORATION
OTHER (Specify)
STATE OF INCORPORATION
SURETY(IES) (Name and business address)
PENAL SUM OF BOND
BID IDENTIFICATION
PERCENT
AMOUNT NOT TO EXCEED
BID DATE
INVITATION NUMBER
OF BID
MILLION(S)
THOUSAND(S)
HUNDRED(S)
CENTS
PRICE
FOR (Construction, Supplies or
Services)
OBLIGATION:
We, the Principal and Surety(ies) are firmly bound to the United States of America (hereinafter called the Government) in the above penal sum. For payment of the penal sum, we bind
ourselves, our heirs, executors, administrators, and successors, jointly and severally. However, where the Sureties are corporations acting as co-sureties, we, the Sureties, bind
ourselves in such sum "jointly and severally" as well as "severally" only for the purpose of allowing a joint action or actions against any or all of us. For all other purposes, each Surety
binds itself, jointly and severally with the Principal, for the payment of the sum shown opposite the name of the Surety. If no limit of liability is indicated, the limit of liability is the full
amount of the penal sum.
CONDITIONS:
The Principal has submitted the bid identified above.
THEREFORE:
The above obligation is void if the Principal - (a) upon acceptance by the Government of the bid identified above, within the period specified therein for acceptance (sixty (60) days if no
period is specified), executes the further contractual documents and gives the bond(s) required by the terms of the bid as accepted within the time specified (ten (10) days if no period is
specified) after receipt of the forms by the principal; or (b) in the event of failure to execute such further contractual documents and give such bonds, pays the Government for any cost
of procuring the work which exceeds the amount of the bid.
Each Surety executing this instrument agrees that its obligation is not impaired by any extension(s) of the time for acceptance of the bid that the Principal may grant to the Government.
Notice to the surety(ies) of extension(s) is waived. However, waiver of the notice applies only to extensions aggregating not more than sixty (60) calendar days in addition to the period
originally allowed for acceptance of the bid.
WITNESS:
The Principal and Surety(ies) executed this bid bond and affixed their seals on the above date.
PRINCIPAL
1.
2.
3.
SIGNATURE(S)
Corporate
(Seal)
(Seal)
(Seal)
Seal
3.
1.
2.
NAME(S) &
TITLE(S)
(Typed)
INDIVIDUAL SURETY(IES)
1.
2.
SIGNATURE(S)
(Seal)
(Seal)
1.
2.
NAME(S)
(Typed)
CORPORATE SURETY(IES)
STATE OF INCORPORATION LIABILITY LIMIT ($)
NAME &
ADDRESS
Corporate
1.
2.
SIGNATURE(S)
Seal
NAME(S) &
1.
2.
TITLE(S)
(Typed)
STANDARD FORM 24 (REV. 8/2016)
AUTHORIZED FOR LOCAL REPRODUCTION
Previous edition is NOT usable
Prescribed by GSA - FAR (48 CFR) 53.228(a)
STATE OF INCORPORATION LIABILITY LIMIT ($)
NAME &
ADDRESS
Corporate
1.
2.
SIGNATURE(S)
Seal
NAME(S) &
1.
2.
TITLE(S)
(Typed)
STATE OF INCORPORATION
LIABILITY LIMIT ($)
NAME &
ADDRESS
Corporate
1.
2.
Seal
SIGNATURE(S)
NAME(S) &
1.
2.
TITLE(S)
(Typed)
STATE OF INCORPORATION
LIABILITY LIMIT ($)
NAME &
ADDRESS
Corporate
1.
2.
Seal
SIGNATURE(S)
NAME(S) &
1.
2.
TITLE(S)
(Typed)
STATE OF INCORPORATION
NAME &
LIABILITY LIMIT ($)
ADDRESS
Corporate
1.
2.
SIGNATURE(S)
Seal
1.
NAME(S) &
2.
TITLE(S)
(Typed)
STATE OF INCORPORATION
LIABILITY LIMIT ($)
NAME &
ADDRESS
Corporate
1.
2.
SIGNATURE(S)
Seal
1.
NAME(S) &
2.
TITLE(S)
(Typed)
STATE OF INCORPORATION
NAME &
LIABILITY LIMIT ($)
ADDRESS
Corporate
1.
2.
SIGNATURE(S)
Seal
1.
NAME(S) &
2.
TITLE(S)
(Typed)
INSTRUCTIONS
1. This form is authorized for use when a bid guaranty is required. Any deviation from this form will require the written approval of the Administrator of General
Services.
2. Insert the full legal name and business address of the Principal in the space designated "Principal" on the face of the form. An authorized person shall sign the
bond. Any person signing in a representative capacity (e.g., an attorney-in-fact) must furnish evidence of authority if that representative is not a member of the
firm, partnership, or joint venture, or an officer of the corporation involved.
3. The bond may express penal sum as a percentage of the bid price. In these cases, the bond may state a maximum dollar limitation (e.g., 20% of the bid price
but the amount not to exceed
dollars).
4. (a) Corporations executing the bond as sureties must appear on the Department of the Treasury's list of approved sureties and must act within the limitations
listed therein. The value put into the LIABILITY LIMIT block is the penal sum (i.e., the face value) of the bond, unless a co-surety arrangement is proposed.
(b) When multiple corporate sureties are involved, their names and addresses shall appear in the spaces (Surety A, Surety B, etc.) headed "CORPORATE
SURETY(IES)." In the space designated "SURETY(IES)" on the face of the form, insert only the letter identifier corresponding to each of the sureties. Moreover,
when co-surety arrangements exist, the parties may allocate their respective limitations of liability under the bond, provided that the sum total of their liability
equals 100% of the bond penal sum.
(c) When individual sureties are involved, a completed Affidavit of Individual Surety (Standard Form 28) for each individual surety, shall accompany the bond.
The Government may require the surety to furnish additional substantiating information concerning its financial capability.
5. Corporations executing the bond shall affix their corporate seals. Individuals shall execute the bond opposite the word "Corporate Seal"; and shall affix an
adhesive seal if executed in Maine, New Hampshire, or any other jurisdiction requiring adhesive seals.
6. Type the name and title of each person signing this bond in the space provided.
7. In its application to negotiated contracts, the terms "bid" and "bidder" shall include "proposal" and "offeror."
STANDARD FORM 24 (
BACK
REV. 8/2016)

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