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EJCDC PENAL SUM FORM
ENGINEERS JOINT CONTRACT
ODGUMENTS COMMENTER
1. Bidder and Surety, jointly and severally, bind themselves, their heirs, executors, administrators, successors, and
assigns to pay to Owner upon default of Bidder the penal sum set forth on the face of this Bond. Payment of the penal
sum is the extent of Bidder’s and Surety’s liability. Recovery of such penal sum under the terms of this Bond shall be
Owner’s sole and exclusive remedy upon default of Bidder.
2. Default of Bidder shall occur upon the failure of Bidder to deliver within the time required by the Bidding
Documents {or any extension thereof agreed to in writing by Owner) the executed Agreement required by the Bidding
Documents and any performance and payment bonds required by the Bidding Documents.
3, This obligation shall be null and void if:
3.1 Owner accepts Bidder’s Bid and Bidder delivers within the time required by the Bidding Documents (or any
extension thereof agreed to in writing by Owner) the executed Agreement required by the Bidding
Documents and any performance and payment bonds required by the Bidding Documents, or
3.2 All Bids are rejected by Owner, or
3.3 Owner fails to issue a Notice of Award to Bidder within the time specified in the Bidding Documents (or any
extension thereof agreed to in writing by Bidder and, if applicable, consented to by Surety when required by
Paragraph S hereof).
4, Payment under this Bond will be due and payable upon default of Bidder and within 30 calendar days after receipt
by Bidder and Surety of written notice of default from Owner, which notice will be given with reasonable promptness,
identifying this Bond and the Project and including a statement of the amount due.
5. Surety waives notice of any and all defenses based on or arising out of any time extension to issue Notice of
Award agreed to in writing by Owner and Bidder, provided that the total time for issuing Notice of Award including
extensions shall not in the aggregate exceed 120 days from the Bid due date without Surety’s written consent.
6. No suit or action shall be commenced under this Bond prior to 30 calendar days after the notice of default
required in Paragraph 4 above is received by Bidder and Surety and in no case later than one year after the Bid due
date.
7. Any suit or action under this Bond shall be commenced only in a court of competent jurisdiction located in the
state in which the Project is located.
8. Notices required hereunder shall be in writing and sent to Bidder and Surety at their respective addresses shown
on the face of this Bond. Such notices may be sent by personal delivery, commercial courier, or by United States
Registered or Certified Mail, return receipt requested, postage pre-paid, and shall be deemed to be effective upon
receipt by the party concerned.
9. Surety shall cause to be attached to this Bond a current and effective Power of Attorney evidencing the authority
of the officer, agent, or representative who executed this Bond on behalf of Surety to execute, seal, and deliver such
Bond and bind the Surety thereby.
10. This Bond is intended to conform to all applicable statutory requirements. Any applicable requirement of any
applicable statute that has been omitted from this Bond shall be deemed to be included herein as if set forth at
length. If any provision of this Bond conflicts with any applicable statute, then the provision of said statute shall
govern and the remainder of this Bond that is not in conflict therewith shall continue in full force and effect.
11. The term “Bid” as used herein includes a Bid, offer, or proposal as applicable.
EJCDC® C-430, Bid Bond (Penal Sum Form). Published 2013.
Prepared by the Engineers Joint Contract Documents Committee.
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