Wray _ Yuma - Advertisement - Appendix B1 - Bid Bond Form.pdf
PDF 306 KB Posted
- Attached to
- CDOT Yuma and Wray Building Repairs
- Solicitation number
- 2025-01
- Issued by
- Yuma 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 (CDOT) project involving Yuma and Wray Building Repairs. The bid bond serves as a proposal guarantee, requiring bidders to submit a financial commitment of 5% of their total bid price, which will be forfeited as liquidated damages if the bidder fails to meet specified obligations. The principal (bidder) must maintain their proposal in full force for 30 days after proposal opening and, if selected, must execute the required agreement, performance bond, labor and material payment bond, and provide necessary insurance documentation.
The bid bond outlines the financial and contractual protections for the state, ensuring that selected bidders follow through on their commitments. The document requires signatures from corporate officers (president or vice president) and must be accompanied by a properly executed power of attorney. Failure to provide a correctly executed bid bond will result in the bidder's proposal being deemed non-responsive. The form is standardized by the State of Colorado (SBP-6.14, revised July 2022) and provides a legal mechanism to protect the state's interests during the bidding process for the Yuma and Wray building repair project.
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Text version
SBP-6.14
Rev. 7/2022
STATE OF COLORADO
OFFICE OF THE STATE ARCHITECT
STATE BUILDINGS PROGRAM
BID BOND
Institution/Agency: Colorado Department of Transportation
Project No./Name: 2025-01/CDOT Yuma and Wray Building Repairs
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.
File details come from the government source that posted it. Updated .