10-Bid Bond Information.pdf
PDF 131 KB Posted
- Solicitation number
- RFP-283-26
- Issued by
- Boulder County, Colorado
About this file
This is a Bid Bond Information document issued by Boulder County, Colorado, outlining the bid security requirements for construction and other contracts. The document specifies that Boulder County may require bid security for construction contracts exceeding $50,000 and for other contracts deemed necessary at the county's discretion. Bid security must be submitted in the form of a surety bond issued by a company authorized to do business in Colorado or a bank cashier's check payable to Boulder County. Bidders are required to submit a scanned copy of the bid security with their bid submittal and mail the original instrument, postmarked no later than the bid deadline, to Boulder County Procurement at 1325 Pearl Street, Boulder, CO 80302. Failure to comply with bid security requirements results in the bid being rejected as nonresponsive. The bid security guarantee remains in effect for thirty days following bid opening, during which time bids are irrevocable.
The bid security amount must equal 5 percent of the amount bid unless otherwise specified in the instructions to bidders. If a bidder is permitted to withdraw before award at Boulder County's sole discretion, no action will be taken against the bidder or the bid security. Following contract award, if the 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. This policy applies to the current solicitation for Abatement and Deconstruction services for the Copper Door facility located at 1770 21st Street, Boulder, CO 80302, with all work subject to City of Boulder code requirements.
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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 Procurement 1325 Pearl Street Boulder, CO 80302
File details come from the government source that posted it. Updated .