SBP-6.14 BidBond.docx
DOCX document 18 KB Posted
- Solicitation number
- IFB1 PMAA 2027000014 2
- Issued by
- Alamosa County, Colorado
About this file
This is a Bid Bond form used by the State of Colorado Office of the State Architect for the State Buildings Program. The document establishes the requirements and conditions for bid bonds that must accompany proposals submitted by contractors bidding on state construction projects. The principal (bidder) and surety are jointly and severally bound to maintain the proposal in full force and effect for thirty days following the opening of proposals. If the principal'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 the prescribed timeframe. The bond must be properly executed with appropriate signatures and corporate seals depending on the business entity type—officers must sign for corporations with attestation by the secretary, while individuals and partnerships must sign accordingly.
The bid bond amount is set at five percent of the principal's total bid price and serves as liquidated damages in the event of default. The document explicitly requires that the bid bond be accompanied by a properly executed Power of Attorney, effectively dated, with failure to provide these documents resulting in the bidder's proposal being deemed non-responsive. The surety executing the bond must be a corporation duly authorized to transact business in Colorado and must be authorized to execute the bond through proper attorney-in-fact representation.
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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 .