Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Procurement Bond topic
No spam. Unsubscribe anytime.
Commissioners approve increased-penalty rider signature to update road-and-bridge roof bond
Summary
Bannock County commissioners signed an increased-penalty rider to adjust the bond amount on a road-and-bridge roof contract after the contractor originally issued a bond for the prior contract amount; procurement staff said the rider formalizes the bond change.
The Bannock County Board of Commissioners approved signing an increased-penalty rider on Oct. 21 to correct a contractor bond amount for the Road and Bridge roof project.
Shanda Crystal, the county’s chief procurement officer, told the board that Dean Roofing Company had issued a bond based on the original contract amount rather than the total after add-alternates were accepted. “They originally made their bond out for the original contract amount not the increase to the ad alternate for the additional material. And so then when I asked them to go back and change it, they came back and said that this was the official way to get that change,” Crystal said.
Crystal said the rider shows the adjusted contract total (noted in the document as moving from the original amount to a completed contract price) and that the county is being asked only for a signature to accept the corrected bond form. She said she did not have the contractor’s bond premium (what the vendor paid) available and that signing the rider does not change the county’s contract price.
A county commissioner moved to sign the rider; the board approved by voice vote. The procurement chief then proceeded with authorization to finalize the contract paperwork.
The board did not record a roll-call tally or disclose the bond premium charged to the contractor on the record.
