Get Form 307 - Bid Bond - Usda Rural Development

Filling out the Form 307 - Bid Bond for USDA Rural Development is an essential step in the bidding process for various projects. This guide will provide you with step-by-step instructions to complete the form online efficiently, ensuring that all necessary information is accurately submitted.

Follow the steps to complete the form accurately.

1. Click the ‘Get Form’ button to access the form and open it in your online editor.
2. Fill in the name of the principal in the space provided. This should include the full legal name of the individual or organization submitting the bid.
3. Provide the full name of the surety in the designated area. This is the entity that will guarantee the bond.
4. Enter the name of the owner in the appropriate section. This refers to the party that will benefit from the bond and owns the project.
5. Specify the total bid amount in the penal sum section. This amount should represent ten percent (10%) of the total bid, not exceeding the specified dollar limit.
6. In the 'whereas' clause, clearly indicate the name of the Rural Utilities Service project for which the principal has submitted a bid.
7. Review the conditions outlined in the contract, ensuring you understand your obligations under the bond and related contracts.
8. Sign and date the form where indicated, ensuring that all signatures are from authorized representatives of both the principal and the surety, along with appropriate seal and titles.
9. Once completed, save your changes. You can then download a copy, print the document, or share it as necessary for your submissions.

Complete your documents online to ensure a smooth and efficient bidding process.