Colorado Revised Statutes

Colo. Rev. Stat. § 24-105-201 (2026)

Bid security

✓ current as of July 2026

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(1) Bid security shall be required for all invitations for bids for construction contracts when the price is estimated by the procurement agent to exceed fifty thousand dollars. Bid security shall be a bond provided by a surety company authorized to do business in this state, the equivalent in cash, or otherwise supplied in a form satisfactory to the state. Nothing in this subsection (1) prevents the requirement of such bonds on construction contracts under fifty thousand dollars.

(2) Bid security shall be in an amount equal to at least five percent of the amount of the bid.

(3) When the invitation for bids requires security, noncompliance requires that the bid be rejected as nonresponsive.

(4) After the bids are opened, they shall be irrevocable for the period specified in the invitation for bids, except as provided in section 24-103-202 (6). If a bidder is permitted to withdraw his bid before award, no action shall be had against the bidder or the bid security.

Source: L. 81: Entire article added, p. 1273, § 1, effective January 1, 1982. L. 2017: (1) amended, (HB 17-1051), ch. 99, p. 329, § 34, effective August 9.

Notes of Decisions

Cited in 2 cases, 1988–1994 · leading case: Powder Horn Constructors, Inc. v. City of Florence, 754 P.2d 356 (Colo. 1988).

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Powder Horn Constructors, Inc. v. City of Florence, 754 P.2d 356 (Colo. 1988). · cites it 16× “Moreover, section 24-105-201 of the Code, a provision specifically dealing with bid bonds, provides in pertinent part as follows: Bid security.”

City of Cheyenne v. Reiman Corp., 869 P.2d 125 (Wyo. 1994). “We note, for example, that 10 C.R.S. § 24-105-201 (1988) provides, in pertinent part, as follows: Bid security.”

— Colo. Rev. Stat. § 24-105-201(4) — 1 case

Powder Horn Constructors, Inc. v. City of Florence, 754 P.2d 356 (Colo. 1988). “Moreover, section 24-105-201 of the Code, a provision specifically dealing with bid bonds, provides in pertinent part as follows: Bid security.”

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