103Section 10 3 Award and Execution

of Contract

103.01Consideration of Proposals. After the proposals (bids) are opened and read, they will

be evaluated, and the Contract awarded or rejected per the “Rules” referenced in subsection

102.01

The low responsible bidder shall submit a completed Contractors Performance Capability Statement, Form 605, and a completed Assignment of Antitrust Claims, Form 621, to the Award Officer before 4:30 P.M. on the fifth calendar day after the bid opening.

To be eligible for contracting with CDOT, the apparent low responsible bidder shall have an account in the B2GNow software system.

Failure to submit the Forms 605 and 621 and to have an account in the B2GNow software system may result in the denial of award to the apparent low responsible bidder and forfeiture of the proposal guaranty.

103.02Award of Contract. If the Contract is awarded, the award will be made within 30

calendar days after the opening of proposals to the lowest bidder whose proposal complies with all the requirements prescribed. The successful bidder will be notified in writing of the acceptance of the proposal and the award of the Contract.

103.03Requirement of Contract Bonds. At the time of the execution of the Contract, the

successful bidder shall furnish a Contract Payment Bond and a Contract Performance Bond. Each bond shall be in a penal sum equal to the nearest integral one hundred dollars in excess of the sum of the original bid items plus all force account items specified in the project special provisions to be included in the payment and performance bonds. The Contract Payment Bond and the Contract Performance Bond shall remain in full force and effect for the term of the Contract. The bonds and the security shall be acceptable to the Department.

103.04Execution and Approval of Contract. The Contract shall be signed and returned by the

successful bidder together with the contract bonds, within 15 days after the date of award. If the signed Contract and bonds are returned by the successful bidder within 15 days after award and, if the Contract is not executed by the Department within 30 days from date of award, the bidder shall have the right to withdraw the proposal without penalty. The Contract will not be considered effective until it has been fully executed by all of the parties to the Contract.

103.04

This Page Intentionally Left Blank

104.01