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NOTICE OF SEALED BID AUCTION - coloradodot

NOTICE OF SEALED BID AUCTION - coloradodot 2025

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This document is a Notice of Sealed Bid Auction for the sale of a 149,280 square foot (3.427 acres) property located at the northwestern corner of Weld County Road 6 and Interstate 25 in Erie, Colorado. The auction is scheduled for October 20, 2010, with a required bid deposit of $10,000. The property is sold 'as-is' and includes a modular home. Bidders must comply with specific terms and conditions outlined in the document, including inspection rights and payment procedures.

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What are the five-five steps involved when using sealed bidding?

The following steps are involved: (a) Preparation of invitations for bids. Invitations must describe the requirements of the Government clearly, accurately, and completely. (b) Publicizing the invitation for bids. (c) Submission of bids. (d) Evaluation of bids. (e) Contract award.

What is the best if you suspect a mistake in bid?

If the bidder alleges a mistake, the contracting officer shall advise the bidder to make a written request to withdraw or modify the bid.

What is a sealed-bid auction?

A sealed-bid auction is a type of auction in which bids are not viewed until the auction date. The bids are sealed, often physically in an envelope, and are all opened at once. Sealed-bid auctions are generally used in bidding for government contracts.

Can a bidder withdraw a bid after opening?

(i) Bidders are allowed to modify or withdraw their online bids any time before the last date and time specified for closing of the receiving period. No bid can be modified or withdrawn by a Bidder, after the closing date and time for submission of bids.

What are the disadvantages of sealed bids?

Cons of Sealed Bidding For both project owners and contractors, this process can be time-intensive. Additionally, the formalities involved in bid submission and opening can extend project timelines, making it less ideal for urgent or fast-track projects.

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What are the rules for sealed bids?

Sealed bid refers to a written bid placed in a sealed envelope. The sealed bid is not opened until the stated date, at which time all bids are opened together. The highest bidder is usually declared the winner of the bidding process.

What are the disadvantages of sealed bidding?

Advantages and disadvantages of sealed bidding AdvantagesDisadvantages Transparency: Open and fair process reduces chances for corruption Lack of flexibility: Little room for negotiation Competition: Confidential bids encourage contractors to drive down prices Narrow focus on price: Emphasis on price instead of quality3 more rows

What happens if a sealed bid is opened by mistake?

If a sealed bid is opened by mistake (e.g., because it is not marked as being a bid), the envelope shall be signed by the opener, whose position shall also be written thereon, and delivered to the designated official.

NOTICE OF SEALED BID AUCTION - coloradodot 2025

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What are the five-five steps involved when using sealed bidding?

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