Use this bid form as the document on which bidders will submit their bids.
If alternates and unit prices are to be include, coordinate with Price and Payment Procedures. Detailed descriptions of alternates and unit prices should be included with only a brief description included here.
Bids can be requested on several basis:
– Stipulated Sum: The Owner pays a single lump sum to the Contractor or Construction Manager to perform the Work. In the case of privately funded projects this amount can be adjusted based on negotiation after bids are received and before a contract is signed and are incorporated. Revisions are incorporated by issuing a post-bid addendum. On publicly funded projects such post-bid negotiations are typically not allowed; the project must be revised and reissued for open bidding. After award of contract additions and deductions from this the stipulated sum can only be made by Change Order.
– Guaranteed Maximum Cost: The Owner pays the actual cost of the Work, plus a pre-determined fee for the Contractor or Construction Manager, to perform the work. Revisions to the Work can be made at any time since the Owner is paying the actual cost.
Stipulated sum contracts may include unit prices, which are used to adjust the Contract Sum after award of Contract when the actual quantities of some parts of the Work are not known at bidding. For example, final pier or pile foundation depths are usually not known until the foundations are placed. In this instance a base bid depth is established for bidding and contract purposes, and the Contract Sum is adjusted after all depths have been measured.
Alternate Bids provide a stipulated sum that will be added to or deducted from the Base Bid amount if specific portions of the Work are modified. For example, the Owner may wish to receive prices on two different low-slope roof types. In this case one of the roof types is included as the Base Bid item, and an Alternate Bid amount is requested to change to the other roof type. Alternate Bids are most often accepted or rejected prior to award of contract unless otherwise specifically stated. A brief description of each alternate should be included here, with more detailed descriptions included in Price and Payment Procedures.