Bid Definition In Illinois

• Category: Construction - Contractors - Bids
• State: Multi-State
• Control #: US-00427-AZ
• Format: Word; Rich Text

Description

The Bid Form for Construction of Building in Illinois clearly defines a 'bid' as a proposal submitted by a contractor specifying the work and monetary terms of a construction project. Key features of this form include sections for project details, contract terms such as progress payments and warranty periods, and requirements for both parties' signatures to formalize acceptance. It outlines the contractor's obligations, including delegation of work and adherence to agreed specifications. Filling instructions emphasize that the contractor should complete and execute three copies and deliver two to the owner, who must then return one signed copy before the proposal expires. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants involved in construction projects, as it provides a clear framework for managing contractual agreements and financial transactions. Use cases include bidding for public or private construction projects, compliance with local regulations, and establishing clear expectations between contractors and owners. By using this form, stakeholders ensure legal clarity and protection throughout the construction process.