Bid Bond.doc
DOC document 62 KB Posted
- Attached to
- PMAA, RMNJ, Navajo SP Water System Improvements
- Solicitation number
- IFB1 PMAA 2017000140 5
- Issued by
- Archuleta County, Denver City, Colorado
About this file
This is a Bid Bond form issued by the State of Colorado Office of the State Architect, State Buildings Programs, required as a condition of proposal submission for state construction projects. The bid bond serves as a guaranty that the principal contractor will maintain their proposal in full force and effect for thirty (30) days following proposal opening. If the principal's proposal is accepted, the contractor must execute the required agreement, furnish performance and labor/material payment bonds, provide insurance documentation, and submit certification and affidavit regarding illegal aliens within the prescribed timeframe. The bond must be properly executed and signed according to the principal's business structure—by an officer (President or Vice President) for corporations with attestation by the Secretary and corporate seal, or by authorized signatories for individuals and partnerships.
The bid bond amount is established at five percent (5%) of the principal's total bid price and constitutes liquidated damages in the event of contractor default. The surety institution must be a corporation authorized to transact business in Colorado and must provide a properly executed power of attorney document with the bond. Failure to submit a properly executed bid bond accompanied by valid power of attorney will result in the bidder's proposal being deemed non-responsive and ineligible for award consideration. This form (State Form SBP-6.14, Revised 10/2006) is a mandatory procurement document for all State of Colorado construction project bids.
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Text version
STATE OF COLORADO
OFFICE OF THE STATE ARCHITECT
STATE BUILDINGS PROGRAMS
BID BOND
Institution/Agency:
Project No./Name:
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 (including city, state and zip)
Secretary
Phone number:
Name (Print)
Signature
Name (Print) and Title
SIGNATURES
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.
State Form SBP-6.14
Rev. 10/2006
File details come from the government source that posted it. Updated .