In the complex landscape of government contracting, the Standard Form 1418 (SF 1418) plays a critical role in ensuring that contracts are executed with a high level of accountability and security. This form, authorized for use within government contracts, serves as a performancer bond, binding the principal and the surety to the United States of America to fulfill all undertakings, covenants, terms, conditions, and agreements stipulated in a given contract. Diving into the specifics, the form outlines the need for the principal to insert their full legal name and business address prominently, mandates that corporations acting as sureties must be listed and approved by the Department of the Treasury, and emphasizes the importance of executing the bond with corporate seals where required, signifying the formal commitment of all parties involved. Additionally, the form includes provisions for individual sureties, requiring them to complete an Affidavit of Individual Surety (Standard Form 28) and possibly to furnish further substantiating information regarding their financial capability. The detailed instructions also cover the administrative aspects such as the submission of the bond to the relevant contracting office, underscoring the tight procedural controls and the stringent adherence to protocol essential for maintaining integrity and trust in the procurement process. Through these mechanisms, the SF 1418 form encapsulates a crucial part of the foundational framework that upholds the government’s contracting activities, ensuring that both the expectations of performance and fiscal responsibility are clearly communicated and legally bound among the parties involved.
| Question | Answer |
|---|---|
| Form Name | Sf 1418 Form |
| Form Length | 3 pages |
| Fillable? | No |
| Fillable fields | 0 |
| Avg. time to fill out | 45 sec |
| Other names | 6HDO, WKH, sf 1418 pdf, RI |
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,16758&7,216
1.This form is authorized for use in connection with Government
contracts. Any deviation from this form will require the written approval of the Administrator of General Services.
2.Insert the full legal name and business address of the Principal in the space designated "Principal" on the face of the form. An authorized person shall sign the bond. Any person signing in a representative capacity (e.g., an
3.(a) Corporations executing the bond as sureties must appear on the Department of the Treasury's list of approved sureties and must act within the limitation listed therein. Where more than one corporate surety is involved, their names and addresses shall appear in the spaces (Surety A, Surety B, etc.) headed "CORPORATE
SURETY(IES)." In the space designated "SURETY(IES)" on the face of the form, insert only the letter identification of the sureties.
(b)Where individual sureties are involved, a completed Affidavit of Individual Surety (Standard Form 28) for each individual surety, shall accompany the bond. The Government may require the surety to furnish additional substantiating information concerning their financial capability.
4.Corporations executing the bond shall affix their corporate seals. Individuals shall execute the bond opposite the word "Corporate Seal", and shall affix an adhesive seal if executed in Maine, New Hampshire, or any other jurisdiction requiring adhesive seals.
5.Type the name and title of each person signing this bond in the space provided.
6.Unless otherwise specified, the bond shall be submitted to the contracting office that awarded the contract.
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