No. 35FH018, 16 Street Mall Reconstruction, 1.13 Payment Bond Requirements

On behalf of the National Association of Surety Bond Producers (NASBP), a national trade association representing professional surety bond producers, including licensed resident agents doing business in Colorado, I am contacting you concerning the payment bond requirements located in Section 1.13, for Bid Package No. 35FH018, which calls for a payment bond in the amount of $2.5 million, or 25% of the contract amount of $10 million. NASBP respectfully requests your reconsideration of the payment bond amount, as we believe the present amount is inadequate to protect subcontractors and material suppliers and is not in conformance with applicable laws and regulations.

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