1-03.4	Contract Bond
(July 23, 2015  APWA GSP)

Delete the first paragraph and replace it with the following:

The successful bidder shall provide executed payment and performance bond(s) for the full contract amount.  The bond may be a combined payment and performance bond; or be separate payment and performance bonds.  In the case of separate payment and performance bonds, each shall be for the full contract amount.  The bond(s) shall:
1.	Be on Contracting Agency-furnished form(s);
2.	Be signed by an approved surety (or sureties) that:
a.	Is registered with the Washington State Insurance Commissioner, and
b.	Appears on the current Authorized Insurance List in the State of Washington published by the Office of the Insurance Commissioner,
3.	Guarantee that the Contractor will perform and comply with all obligations, duties, and conditions under the Contract, including but not limited to the duty and obligation to indemnify, defend, and protect the Contracting Agency against all losses and claims related directly or indirectly from any failure:
a.	Of the Contractor (or any of the employees, subcontractors, or lower tier subcontractors of the Contractor) to faithfully perform and comply with all contract obligations, conditions, and duties, or
b.	Of the Contractor (or the subcontractors or lower tier subcontractors of the Contractor) to pay all laborers, mechanics, subcontractors, lower tier subcontractors, material person, or any other person who provides supplies or provisions for carrying out the work;
4.	Be conditioned upon the payment of taxes, increases, and penalties incurred on the project under titles 50, 51, and 82 RCW; and
5.	Be accompanied by a power of attorney for the Surety’s officer empowered to sign the bond; and
6.	Be signed by an officer of the Contractor empowered to sign official statements (sole proprietor or partner). If the Contractor is a corporation, the bond(s) must be signed by the president or vice president, unless accompanied by written proof of the authority of the individual signing the bond(s) to bind the corporation (i.e., corporate resolution, power of attorney, or a letter to such effect signed by the president or vice president).