Sedgwick Well Drilling - Advertisement - Appendix B1 - Bid Bond.pdf
PDF 186 KB Posted
- Attached to
- Sedgwick - Well Drilling
- Solicitation number
- 22137
- Issued by
- Rio Grande County, Colorado
About this file
This document is a Bid Bond form issued by the State of Colorado's Office of the State Architect for the Colorado Department of Transportation's Sedgwick Well Drilling project (Project No. 22137). The bid bond serves as a proposal guaranty, requiring the principal (bidder) to maintain their proposal for 30 days after proposal opening and, if selected, to execute the required agreement, performance bond, labor and material payment bond, and other necessary documentation. The bond represents a financial guarantee of 5% of the total bid price, which would be forfeited as liquidated damages if the bidder fails to meet their obligations.
The bid bond is a standard state procurement document that protects the state's interests by ensuring bidder commitment and financial responsibility. It requires the principal to provide all necessary bonds, insurance certificates, and compliance documentation, with a clear warning that failure to provide a properly executed bid bond with an accompanying power of attorney will result in the proposal being deemed non-responsive. The form is designed to be completed by the bidding company, with specific signature requirements depending on whether the principal is a corporation, individual, or partnership.
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Text version
State Form SBP-6.14 Rev. 10/2006
STATE OF COLORADO
OFFICE OF THE STATE ARCHITECT
STATE BUILDINGS PROGRAMS
BID BOND
Institution/Agency: Department Of Transportation Project No./Name: 22137/Sedgwick - Well Drilling
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 OF COLORADO |
| OFFICE OF THE STATE ARCHITECT |
| BID BOND |
| Department Of Transportation |
| 23451/Lamar VSF Addition |
File details come from the government source that posted it. Updated .