Laserfiche WebLink
AGREEMENT -The word Agreement means the written Agreement entered into by the State of Colorado <br />acting by and through the Principal Representative and the Contractor for the performance of the work and <br />payment for the work. <br />WORK -The word Work means material and/or labor. <br />SUBCONTRACTOR - A Subcontractor is a sole proprietorship, partnership or corporation which has a <br />contract with the Contractor for the performance of labor at the site of the work rEgardless of whether <br />supplying of material is part of such contract, but without contractual relationship to the Principle <br />Representative. <br />DRAWINGS -The ward Drawings shall mean all drawings in the Special Conditions. <br />COLORADO LABOR -The term Colorado Laborshall be defined as provided in Title 8-17-101, et seq. CRS <br />1973, as amended. <br />Article 2. PERFORMANCE AND PAYMENT BONDS <br />The Contractor shall furnish a labor and material payment bond for 100 percent of the original contract price <br />and a performance bond for 100 percent of the original amount of the contract. The bonds are required by <br />State Law, Title 24105, 202-203, C.R.S. as amended. The bonds shall be submitted using the State forms. <br />A certified or cashier; check or bank money order may be accepted in lieu of the bonds. If a surety other <br />than a bond is used, the State will hold fifty percent (50%) of the surety until the final settlement date and <br />fifty percent (50°k) for six (6) months after the final settlement date. <br />Article 3. INSURANCE <br />The Contractor is required to procure and maintain at his own expense the insurance coverage listed below. <br />Proof of insurance must be submitted on cert'rficates showing the following minimum coverage: <br />Standard Workers Compensation and Employer Liability, as required by State Statute <br />including occupational disease, covering all employees at the work site. <br />2. General Liability (Public Liability & Property Damage): <br />a. Combined single limit of $600,000 written on an occurrence basis; <br />b. Any aggregate will not be less than $1 million; <br />c. The contractor must purchase additional insurance if claims reduce the annual <br />aggregate below $600,000; <br />3. Automobile Liability (Minimum). The contractor must carry a minimum of $600,000 <br />combined single limit. <br />The Certrficates of Insurance and insurance policies required above shall be subject to the following <br />stipulations: <br />A. The State of Colorado MUST be named as an Adddional Insured on the certificate of <br />insurance. An Additional Insured Endorsement amending such policy or policies is also <br />required. <br />B. The clause emitted 'Other Insurance Provisions° contained in any policy including the State <br />of Colorado as an additional named insured shall not apply to the State of Colorado. <br />C. The insurance companies issuing the policy or policies shall have no recourse against the <br />State of Colorado for payment oT any premiums due or for any assessments under nay form <br />of any policy, <br />D. Any and all deductibles or self-insured retention contained in any insurance policy shall be <br />assumed by and at the sole risk of the Contractor. <br />E. If any of the said policies shall be or at any time become unsatisfactory to the State of <br />Colorado Division of Minerals & Geology GENERAL BID SPECIFICATIONS <br />1996 Page 2 <br />