Standard Form 1418 - Performance Bond For Other Than Construction Contracts Page 2
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2Corporate
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Corporate
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BOND
PREMIUM
1. This form is authorized for use in connection with Government
(b) Where individual sureties are involved, a completed Affidavit
contracts.
Any deviation from this form will require the written
of Individual Surety (Standard Form 28) for each individual surety,
approval of the Administrator of General Services.
shall accompany the bond. The Government may require the surety
to furnish additional substantiating information concerning their
2. Insert the full legal name and business address of the Principal in
financial capability.
the space designated "Principal" on the face of the form.
An
authorized person shall sign the bond.
Any person signing in a
4. Corporations executing the bond shall affix their corporate seals.
representative capacity (e.g., an attorney-in-fact) must furnish
Individuals shall execute the bond opposite the word "Corporate
evidence of authority if that representative is not a member of the firm,
Seal", and shall affix an adhesive seal if executed in Maine, New
partnership, or joint venture, or an officer of the coporation involved.
Hampshire, or any other jurisdiction requiring adhesive seals.
3. (a) Corporations executing the bond as sureties must appear on
5. Type the name and title of each person signing this bond in the
the Department of the Treasury's list of approved sureties and must
space provided.
act within the limitation listed therein. Where more than one corporate
surety is involved, their names and addresses shall appear in the
6.
Unless otherwise specified, the bond shall be submitted to the
spaces (Surety A, Surety B, etc.) headed "CORPORATE
contracting office that awarded the contract.
SURETY(IES)."
In
the
space
designated "SURETY(IES)" on
the face of the form, insert only the letter identification of the sureties.
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Parent category: Financial