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                Get Penal Sum Form
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How to fill out the PENAL SUM FORM online
This guide provides clear and supportive instructions on how to complete the PENAL SUM FORM online. Whether you are inexperienced with legal documents or seeking a thorough overview, this resource will assist you in navigating the form with confidence.
Follow the steps to complete your PENAL SUM FORM efficiently.
- Press the ‘Get Form’ button to access the PENAL SUM FORM and open it in your chosen document editor.
- In the 'Bidder' section, enter the name and address of the bidder. Ensure the details are accurate to maintain legal validity.
- In the 'Surety' section, fill in the name and address of the principal place of business for the surety.
- Move to the 'Owner' section and provide the name and address of the owner of the project.
- Next, specify the 'Bid Due Date' clearly. This is the deadline for bid submission.
- In the 'Description' field, detail the project's name along with its location (e.g., Norwegian Township Meeting Room Addition, 506 Maple Avenue, Mar Lin PA 17951).
- Provide the 'Bond Number' and the date. The date must not be earlier than the bid due date.
- In the 'Penal sum' section, denote the amount in both words and figures, ensuring there are no discrepancies.
- Both the bidder and surety need to sign in their respective sections, and ensure the inclusion of corporate seals where applicable.
- Finally, once all fields are completed and reviewed for accuracy, save any changes, and select the option to download, print, or share the completed form as necessary.
Complete your PENAL SUM FORM online today to ensure a smooth bidding process.
Penal sum or "penal amount" means the amount of money specified in a bond (or a percentage of the bid price in a bid bond) as the maximum payment for which the surety is obligated or the amount of security required to be pledged to the Government in lieu of a corporate or individual surety for the bond.
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