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Bid Bond. A bid bond is required for all jobs. A bid guarantee in an amount not less than five percent (5%) of the total bid price must be submitted in the form of a firm commitment, such as a bid bond, bank money order, certified check or cashier's check. Checks or money orders should be made payable to the Treasurer, State of Colorado. If a bid bond is submitted, the State form shall be used. An irrevocable letter of credit is not acceptable as a bid guarantee. Bid guarantees, other than bid bonds, will be returned (a) to unsuccessful bidders as soon as practicable after the opening of bids, and (b) to the successful bidder upon execution of such further contractual documents and bonds (including any necessary coinsurance or reinsurance agreements) as may be required by the bid as accepted. Failure to fumish a bid guarantee in the proper form and amount by the time set for opening of bids may be cause for rejection of the bid. If the successful bidder, upon acceptance of his bid by the OWNER, fails to execute such further contractual documents, and give such bond(s) (including any necessary coinsurance or reinsurance agreements) as may be required within ten (10) days after receipt of the Notice of Award, the contract may be terminated for default. In such event the CONTRACTOR shall be 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. List of Equipment Offered. The List of Equipment Offered form must be returned with each bid. All equipment to be used on the project must be listed. The CONTRACTOR must own, have a current lease for the equipment intended to be used to perform the work, or must furnish a statement of arrangements to rent, or otherwise procure, adequate equipment to perform the work. Inclusion of a piece of equipment on the List of Equipment Offered represents a commitment to devote that piece of equipment to the project work for the entire duration of the project. If several contractors propose to join together to perform the work under this contract, equipment owned or controlled by each should be listed and the owner identified. A contract will not be awarded 1o a bidder who in the opinion of the OWNER (a) does not have adequate equipment, or (b) does not have firm and satisfactory arrangements to obtain adequate equipment to perform the work described in the Invitation and Bid. 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. GENERAL BID SPECIFICATIONS (Mine Opening Closure projects only) The Colorado Inactive Mine Reclamation Program General Bid Specifications 1996, which include General Conditions, Standard Work Specifications, and Standard Drawings and Figures are intended to complement these Special Conditions. The Special Conditions combined with the General Bid Specifications 1996 form the complete Invitation and Bid document. Please refer to the Standard Work Specifications for all applicable types of work required in the Special Conditions. The General Conditions apply to all work covered in the Special Conditions. Copies of the General Bid Specifications are available at the Pre-Bid Meeting or from the Division of Minerals and Geology (DMG), 1313 Sherman Street, Room 215, Denver, Colorado 80203 (303) 866-3567.