2 Colo. Code Regs. § 601-10-4.20

Current through Register Vol. 47, No. 11, June 10, 2024

Section 2 CCR 601-10-4.20 - Return of Bid Proposal Guarantee

As indicated in the Invitation for Bids, each Bid must be accompanied by a Bid Proposal Guarantee. All Bid Proposal Guarantees consisting of certified checks or cashier checks will be treated as follows:

(a) For Contractors submitting the second and third lowest Bids, the Bid Proposal Guarantee will be held until the Contract is signed by the Low Apparent Bidder, at which time the Bid Proposal Guarantees of the second and third low Bidders will be returned. The Bid Proposal Guarantee will not be returned to the Low Apparent Bidder until satisfactory Contract Bonds have been furnished and the Contract has been signed by the Low Apparent Bidder.

(b) For all other Contractor's submitting Bids, the Bid Proposal Guarantee will be returned promptly after the opening and verification of Bids.

(c) For Contractor's Bids rejected by CDOT, the Bid Proposal Guarantee will be returned promptly after formal notification of the rejection.

(d) For Contractor's Bids withdrawn under Section 4.14.1 , the Bid Proposal Guarantee will be returned promptly after withdrawal of the Bid.

2 CCR 601-10-4.20

41 CR 17, September 10, 2018, effective 9/30/2018