Difference between revisions of "103.2 Contract Bond for Sec 103.4"
m (Per CM, additional guidance for Sec 103.4 in this new article) |
m (Per CM, this article completely updated to provide additional information on how to make payment for contract bond and railroad liability insurance) |
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[http://www.modot.mo.gov/business/standards_and_specs/Sec0103.pdf Sec. 103.4] provides information regarding the contract bond. | [http://www.modot.mo.gov/business/standards_and_specs/Sec0103.pdf Sec. 103.4] provides information regarding the contract bond. | ||
| − | + | For contracts that include a pay item for mobilization, the contractor may submit a request for an upfront reimbursement payment for the cost of the contract bond, as well as the cost of any railroad liability insurance (see [http://www.modot.state.mo.us/business/standards_and_specs/Sec0618.pdf Sec 618]). The contractor will need to submit this request to the Resident Engineer along with invoices that verify the cost of the bond and/or railroad liability insurance. The RE will then issue a no-cost change order to add a pay item for these costs and to reduce the cost of mobilization by an equal amount. See the [[:Category:101 Standard Forms#Change Orders – Mobilization and Contract Bond|QRG Change Orders-Mobilization and Contract Bond]] for instructions on how to process this change order in SM[[image:bulldozer.jpg|20px]]. If the change order is exclusively issued to pay bond/insurance, then the contractor’s signature on the change order is not required and no higher level approval is required, including federal oversight projects. Contracts that do not include a pay item for mobilization, such as [[147.3 Job Order Contracting (JOC)|Job Order Contracts]] and [[:Category:402 Bituminous Surface Leveling|Contract Level Course]] projects, are not eligible for this reimbursement since they do not include a pay item for mobilization. | |
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[[Category:103 Award and Execution of Contract]] | [[Category:103 Award and Execution of Contract]] | ||
Revision as of 15:03, 11 February 2015
Sec. 103.4 provides information regarding the contract bond.
For contracts that include a pay item for mobilization, the contractor may submit a request for an upfront reimbursement payment for the cost of the contract bond, as well as the cost of any railroad liability insurance (see Sec 618). The contractor will need to submit this request to the Resident Engineer along with invoices that verify the cost of the bond and/or railroad liability insurance. The RE will then issue a no-cost change order to add a pay item for these costs and to reduce the cost of mobilization by an equal amount. See the QRG Change Orders-Mobilization and Contract Bond for instructions on how to process this change order in SM
. If the change order is exclusively issued to pay bond/insurance, then the contractor’s signature on the change order is not required and no higher level approval is required, including federal oversight projects. Contracts that do not include a pay item for mobilization, such as Job Order Contracts and Contract Level Course projects, are not eligible for this reimbursement since they do not include a pay item for mobilization.
