1-Bid Bond Information.pdf
PDF 79 KB Posted
- Attached to
- 28th St. Hub - Acoustic Ceilings
- Solicitation number
- BID-273-26
- Issued by
- Boulder County, Colorado
About this file
This is a Bid Bond Information document issued by Boulder County, Colorado, detailing bid security requirements for construction and other contracts. The document establishes that bid security may be required at Boulder County's discretion for construction contracts exceeding $50,000 and for other contracts deemed in the county's best interest. Bid security must be submitted in an amount equal to 5 percent of the bid amount, in the form of either a surety bond issued by a Colorado-authorized company or a bank cashier's check payable to Boulder County. Bidders must submit a scanned copy with their bid and mail the original instrument postmarked no later than the bid deadline to Boulder County Purchasing at 1325 Pearl Street, Boulder, CO 80302. Bids remain irrevocable for thirty days after opening, and noncompliance with bid security requirements results in bid rejection as nonresponsive.
Following award, if a contractor fails to deliver required performance and payment bonds or refuses to enter into a contract under the terms of its winning bid, Boulder County will reject the bid and enforce the bid security to the extent of actual damages. If a bidder is permitted to withdraw before award at Boulder County's sole discretion, no action will be taken against the bidder or bid security. The bid security serves as a guarantee that the bid will be maintained in full force and effect during the thirty-day period following bid opening.
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Text version
Bid Bond Information
Bid Security: Boulder County may require, at its discretion, bid security for construction contracts when the price is expected to exceed $50,000 and for any other contracts as determined by Boulder County to be in its best interest. Bid security provides assurance to Boulder County that the bidder will, upon award, fulfill its bonding and contracting obligations as required by the instructions to bidders. When bid security is required, as indicated in the instructions to bidders, the following terms apply:
• Bid security must be for an amount equal to 5 percent of the amount bid, unless otherwise stipulated in the instructions to bidders.
• Bid security must be in the form of a bond, issued by a surety company authorized to do business in Colorado, or a bank cashier’s check made payable to Boulder County.
• Bidders should scan and submit a copy of the bid security instrument with their bid submittal AND mail to Boulder County the actual bid security instrument, postmarked no later than the date of the bid deadline.
• Bidder noncompliance with bid security requirements requires that the bid be rejected as nonresponsive.
• The bid security is submitted as a guarantee that the bid will be maintained in full force and effect for a period of thirty (30) days after the opening of the bids.
Accordingly, after bids are opened, they shall be irrevocable for a period of thirty
(30) days.
• If a bidder is permitted to withdraw his bid before award, at Boulder County’s sole discretion, no action shall be had against the bidder or the bid security.
• Following award, if a contractor fails to deliver the required performance and payment bonds or refuses to enter into a contract with Boulder County under the terms of its winning bid, the contractor’s bid shall be rejected and its bid security will be enforced by Boulder County to the extent of actual damages
Mailing Address:
Boulder County Purchasing 1325 Pearl Street Boulder, CO 80302
File details come from the government source that posted it. Updated .