SBP-6.14 BidBond (1) (1).docx

DOCX document 18 KB Posted

Attached to
Residence at Rex Domestic Water Line Replacement
Solicitation number
ASU 2023-01*
Issued by
Alamosa County, Colorado

About this file

This document is a Bid Bond issued by the State of Colorado Office of the State Architect for Adams State University, specifically for the Residence at Rex Domestic Water Line Replacement project (Project No. ASU 2023-01). The project involves comprehensive replacement of existing PEX domestic water lines in a four-story residential apartment building on the Adams State University campus in Alamosa, Colorado. The scope of work is divided into three distinct bid packages: Package A covering selective demolition, architectural, and electrical work; Package B addressing selective plumbing demolition and plumbing/electrical renovation; and Package C focusing on selective architectural renovation.

The Bid Bond requires a financial guarantee of 5% of the total bid price, which will be forfeited as liquidated damages if the bidder fails to maintain their proposal or does not execute the required agreement and associated documentation. Bidders must maintain their proposal in full force for 30 days after proposal opening and, if selected, must provide a performance bond, labor and material payment bond, insurance policy, and corresponding certificates. The bond serves as a mechanism to ensure bidder commitment and project integrity, with specific requirements for corporate signatures, attestation, and accompanying power of attorney documentation.

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Text version

STATE OF COLORADO

OFFICE OF THE STATE ARCHITECT

STATE BUILDINGS PROGRAM

BID BOND

Institution/Agency:
Adams State University
Project No./Name:
ASU 2023-01 / Residence at Rex Domestic Water Line Replacement

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 anda 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, and Certificates of Insurance, 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 __________________________________________
SecretaryAttorney-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. 7/2022 image1.jpg

File details come from the government source that posted it. Updated .