Attachment 3 SBP-6.14 Bid Bond.docx
DOCX document 35 KB Posted
- Attached to
- MT GOAT Site Construction Project
- Solicitation number
- IFB1 FAAA 2027000006 1
- Issued by
- Denver County, Denver City, Colorado
About this file
This is a Bid Bond document for the MT GOAT Site Construction Project in Colorado. The bid bond serves as a required financial assurance that accompanies the bidder's proposal to ensure the bidder's good faith and commitment to execute the construction project if awarded. The bond protects the state of Colorado by guaranteeing that the successful bidder will enter into a contract and provide the required performance bond upon award. Bidders must submit the completed bid bond as part of their proposal package according to the solicitation requirements and deadlines specified in the contract opportunity documentation.
The bid bond establishes the principal (bidder), the obligee (the state/project owner), and the surety company that will guarantee the bidder's performance. The bond amount is typically set at a percentage of the bid amount as specified in the bid documents. This financial instrument ensures that if the bidder fails to execute the contract or provide required performance assurance after being selected for award, the surety will compensate the obligee for costs incurred in re-bidding the project or other damages resulting from the bidder's non-performance.
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Text version
STATE OF COLORADO
OFFICE OF THE STATE ARCHITECT
STATE BUILDINGS PROGRAM
BID BOND
Institution or Agency: Colorado Department of Public Health and Environment Project No./Project Name: 793 - ATOPs SB MT GOAT Site Construction project
KNOW ALL MEN BY THESE PRESENTS:
WHEREAS, hereinafter called the “PRINCIPAL”, is submitting a PROPOSAL for the above described project, to the STATE OF COLORADO, hereinafter called the “OBLIGEE”.
WHEREAS, the Advertisement for Bids has required as a condition of receiving the Proposals that the Principal submit with the PROPOSAL GUARANTY in an amount not less than five per cent (5%) of the Proposal, which sum it is specifically agreed is to be forfeited as Liquidated Damages in the event that the Principal defaults in his obligation as hereinafter specified, and, in pursuance of which Requirement, this Bid is made, executed and delivered.
NOW THEREFORE, the Principal and a corporation of the State of , duly authorized to transact business in Colorado, as Surety, are held and firmly bound unto the Obligee, in the sum of five per cent (5%) of the Principal’s total bid price, lawful money of the United States for the payment of which sum, well and truly to be made to the Obligee, we bind ourselves, our heirs, executors, administrators, successors and assigns, jointly and severally, firmly by these presents.
FURTHER THAT, a condition of the obligation that the Principal shall maintain his Proposal in full force and effect for thirty (30) days after the opening of the proposals for the project, or, if the Principal’s Proposal is accepted, the Principal shall, within the prescribed time, execute the required Agreement, furnish the required Performance Bond, Labor and Material Payment Bond, Insurance Policy, Certificates of Insurance and Certification and Affidavit Regarding Illegal Aliens, then this obligation shall be null and void, otherwise it shall remain in full force and effect, and subject to forfeiture upon demand as Liquidated Damages.
IN WITNESS WHEREOF said Principal and Surety have executed this Bond, this ____ day
| of ________________________, A.D., 20 | . | |
| (Corporate Seal) | THE PRINCIPAL |
Company Name
| ATTEST | _________________________________________________ | ||
| Address | |||
| _________________________________________________ | |||
| City, State Zip Code |
| By ________________________________________ | _________________________________________________ | |
| Name (Print) | Signature |
Name (Print) and Title If the “Principal” is doing business as a Corporation, the Bid Bond shall be signed by an officer, i.e., President or Vice President. The signature of the officer shall be attested to by the Secretary and properly sealed.
If the “Principal” is an individual or a partnership, the Bid Bond shall so indicate and be properly signed.
| (Corporate Seal) | THE SURETY | |
| _________________________________________________________ |
| ____________________________________________ | By_________________________________________________ | |
| Secretary | Attorney-in-Fact |
THIS BOND MUST BE ACCOMPANIED BY POWER OF ATTORNEY, EFFECTIVELY DATED.
FAILURE TO PROVIDE A PROPERLY EXECUTED BID BOND WITH A PROPERLY EXECUTED POWER OF ATTORNEY WILL RESULT IN THE BIDDER’S PROPOSAL BEING DEEMED NON-RESPONSIVE.
SBP-6.14
Rev 7/2025 image1.jpeg
File details come from the government source that posted it. Updated .