|Design & Construction|
|How to Submit Bid Bond Deposits|
Projects designed as SHORT FORM (value is estimated under $100,000.00) do not require bid deposits, and the low bidder will not be required to furnish a labor and material bond or a performance bond.
A bid bond form is provided with plans purchased from the Office of General Services for use in bidding all other OGS projects. The use of company forms, etc. is not acceptable, and, if the form provided is not used, the bid bond will be declared informal and the bid may be subject to being disqualified. When submitting bid bonds with bids, please do not staple the bid form and the bid bond form together.
Be sure to use care in execution of a bid bond. The most common error is the corporate acknowledgment date preceding the date of execution of the bond. Please ensure the corporate acknowledgment date is the same as, or occurs after the date of the bond. Bonds submitted with such errors are deemed informal and are subject to disqualification if not corrected within a 24-hour period.
Surety companies used for bid bonds must be licensed to do business in New York State. Use of a company not licensed as such will result in the bid being disqualified. Financial statements by the surety are not required for either bid bonds or performance and labor and material bonds.
Submitted bid bonds must contain ORIGINAL signatures of both the surety and contractor. Bid bonds which do not contain original signatures (photocopies are unacceptable) of both the surety and the contractor will be disqualified.