_ EJCDCS - . PENAL SUM FORM
DOCUMENTS CONMETTES
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.
3. This obligation shall be null and void if:
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
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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.
7. Any suit or action under this Bond shall be commenced only in a court of competent jurisdiction located in the
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
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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