Bid Preparation & Submission Flashcards

What is the primary purpose of a bid bond in construction estimating?

Answer: To assure the owner the bidder will execute the contract if awarded

A bid bond guarantees the bidder will enter into the contract at the bid price if selected.

When reviewing subcontractor quotes, an estimator discovers two subs quoted significantly lower than all others. The best course of action is to:

Answer: Verify scope coverage and check for potential errors or omissions in those quotes

Unusually low quotes often indicate scope gaps or errors that could lead to disputes or cost overruns during construction.

Which document typically defines the legal obligations of the owner, contractor, and subcontractors during bidding?

Answer: The Instructions to Bidders

The Instructions to Bidders outlines bidding procedures, requirements, and the legal obligations of all parties.

A bid alternate is best described as:

Answer: A revision to the base bid scope for added or deducted work priced separately

Bid alternates allow owners to evaluate add or deduct scope items separately from the base bid.

What does 'responsive bid' mean in competitive bidding?

Answer: The bid is submitted before the deadline with all required documents

A responsive bid complies with all bid requirements and is submitted on time with all required documents.

Which factor should NOT typically influence a contractor's decision to bid on a project?

Answer: The personal friendship between the estimator and project owner

Personal relationships should not drive bid/no-bid decisions; objective criteria such as capacity, expertise, and project viability should guide the decision.

When is it appropriate to request a bid extension from the owner?

Answer: When critical bid documents are issued late or scope changes occur close to the deadline

A bid extension is appropriate when late addenda or significant scope changes do not allow adequate time for accurate pricing.