_GENERAL DOCUMENTS - C1981017 ‎(206)‎

• Permit No: C1981017
• IBM Index Class Name: GENERAL DOCUMENTS
• Doc Name: Bid Documents ‎(IMP)‎
• Permit Index Doc Type: General Correspondence
• Media Type: D
• Archive: No

Article 51. SETTLEMENT
The Principle Representative shall not authorize final payment until all items on the punch list have been
completed, the Final Inspection and Certificate of Completion issued, and the Notice of Contractor's
Settlement published. Before the Principal Representative may advertise, the Contractor shall deliver
the Principle Representative all guaranties and warranties, and daily or weekly Job Logs.
When the Principle Representative indicates acceptance of the work, the Contractor may requisition
final payment, including retainage, on account of the contract price.
Before such final payment may be made the Principle Representative must comply with Title
38-26-107 C.R.S. as amended, which requires that publication of a notice of final settlement with the
Contractor be made twice in a newspaper of general circulation in the county wherein the Agreement
was made (usually Denver County) and the county wherein the work was performed. The date fixed
in such notice, before which final payment to the Contractor may not be made, must be no less than
ten days after the second publication of the notice.
Any unpaid creditor of the Contractor who supplied labor and/or material for the work has those ten
days in which to file with the Principle Representative a verified statement of the amount due and
unpaid. The Principle Representative must withhold from payment to the Contractor the total amount
of such claim for a period of ninety days after the date in the notice fixed for settlement, but the
Principle Representative may not directly make payment to the creditor(s). If within those ninety days
a creditor does not reach settlement with the Contractor, he must file with the Principle Representative
a notice that he has brought action at law, otherwise the Principle Representative, at expiration of
ninety days, will pay the Contractor for the amount withheld.
Article 52. GUARANTY AND WARRANTIES
The Contractor shall furnish the Principle Representative with a written guaranty for one year covering
all labor, materials and workmanship incorporated in the work. The Contractor, in instances of work
performed or material or equipment furnished for which warranties are required by the specifications,
shall procure such warranties and deliver them to the Principle Representative on completion of the
work. Such warranties will no way lessen the Contractor's responsibilities under the Agreement.
Whenever warranties or guarantees are required by the specifications for a period longer than one year,
such longer period shall govern. Written guaranties must be received by the Principle Representative
before final payment will be approved.
Article 53. ASSIGNMENT
The Contractor shall not assign the whole or any part of this Contract as any moneys due or to become
due hereunder without the written'consent of the Principal Representative. No assignment without
said prior approval shall be valid. In case the Contractor assigns all or part of any moneys due or to
become due under this Contract, the instrument of assignment shall contain a clause substantially to
the effect that it is agreed that the right of the assignee in and to any moneys due or to become due
to the Contractor shall be subject to all claims of all persons, firms, and corporations for services
rendered or materials supplied for the performance of the work called for in this Contract, whether said
service or material were supplied prior to, or after the assignment.
Article 54. LIENS
There is no right of Mechanic's Lien against publicly-owned property in the State of Colorado.
However, as outlined in Article 51 SETTLEMENT, unpaid labor and/or materials suppliers for the work
are by law provided certain alternate remedies.
Article 55. POST-COMPLETION1 INSPECTIONS
Final payment made to the Contractor on account of the work shall not operate to relieve the
Contractor of responsibility for faulty material or workmanship, and unless otherwise provided the
Contractor shall remedy any defect due thereto and pay for any damages resultant therefrom which
shall appear within one year from the date of final acceptance of the work, which date will be that of
the Final Inspection and Certificate of Completion.
Colorado Division of Minerals & Geology GENERAL BID SPECIFICATIONS
1996 Page 19