SBP-6.14 BidBond.docx
DOCX document 18 KB Posted
- Attached to
- Loma Port of Entry - ANS Traffic Rerouting
- Solicitation number
- IFB1 PMAA 2027000042 3
- Issued by
- Mesa County, Colorado
About this file
This is a Bid Bond template document issued by the State of Colorado, Office of the State Architect, State Buildings Program, for use in competitive bidding on state construction projects. The bond serves as a guaranty submitted with project proposals to ensure bidder compliance with proposal requirements and subsequent contract obligations.
The bid bond requires a guaranty amount equal to five percent (5%) of the principal's total bid price, payable to the State of Colorado as obligee. The bond remains in effect for thirty (30) days following proposal opening, during which time the bidder must maintain the proposal in full force and effect. If the bidder's proposal is accepted, the bidder must execute the required agreement, furnish performance and labor/material payment bonds, provide insurance policies and certificates of insurance within prescribed timeframes. Failure to meet these obligations results in forfeiture of the bid bond amount as liquidated damages. The bond must be executed by a corporate officer (President or Vice President) with attestation by the Secretary and corporate seal for corporations, or properly signed by individuals or partnerships as applicable. The surety must provide a power of attorney document, effectively dated, accompanying the executed bid bond; failure to submit a properly executed bid bond with corresponding power of attorney will render the bidder's proposal non-responsive and subject to rejection.
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Text version
STATE OF COLORADO
OFFICE OF THE STATE ARCHITECT
STATE BUILDINGS PROGRAM
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, 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 __________________________________________ | ||
| 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. 7/2022 image1.jpg
File details come from the government source that posted it. Updated .