2021-12-02_GENERAL DOCUMENTS - M1984072

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liable for any cost of procuring the work which exceeds the amount of his bid, and the bid guarantee shall be available toward offsetting such difference. PERFORMANCE AND PAYMENT BONDS A Performance and Payment bond is required if the amount bid is $50,000.00 or greater. The Contractor shall furnish a labor and material payment bond for 100 percent of the original contract price and a performance bond for 100 percent of the original amount of the contract. The bonds are required by State Law, Title 24-105, 202-203, C.R.S., as amended. The bonds shall be submitted using the State forms. A certified or cashier's check or bank money order may be accepted in lieu of the bonds. If a surety other than a bond is used,the State will hold fifty percent (50%) of the surety until the final settlement date and fifty percent (50%) for six (6)months after the final settlement date. BID AWARD Award will be made with reasonable promptness, by written notice to the low responsive and responsible bidder whose bid meets the requirements and criteria set forth in the Invitation for bid. These criteria will include, but not be limited to the lowest GRAND TOTAL PRICE, corrected if necessary for errors in price extension and/or addition, on the Bidder's equipment if a List of Equipment Offered is required with the bid, and capability to meet the performance time requirements. The GRAND TOTAL PRICE will be used for comparing bids only. To be considered responsive and responsible, bidders may not have a Below Standard "(1)", OVERALL (averaged) performance rating in the Colorado Contract Management System (CMS), for any construction project completed for Colorado in the last five years, per C.R.S. 24- 105-1(2) NOTICE OF AWARD AND EXECUTION OF DOCUMENTS NOTE:As of 411512018 all Vendors are now required to complete & return an EFT form unless they currently have a valid form on file. A Notice of Award will be sent to the apparent low bidder within a reasonable time following the bid opening. The Division of Reclamation, Mining and Safety must receive the following by the date specified in the award letter: (a) Fully-executed Performance and Payment Bonds, accompanied by appropriate Power of Attorney, effectively dated, if required; (b) Certificates of Insurance showing proof of required coverage and Additional Insured Endorsement; (c) AML Contractor Ownership and Control Form, (d) Minority (MBE)/women (WBE)Business Participation form; (e) Completed W-9 forms, if required; (f) Project Schedule (g) Completed EFT Form Page 5 of 17