Bid 20-09-01 Golden Shores Street Lighting Bid Package

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City of Sunny Isles Beach |Invitation to Bid No. 20-09-01 12 of 5% of the total Proposal Price. 2.10 PERFORMANCE AND PAYMENT BOND The City of Sunny Isles Beach shall require the successful Bidder to furnish a Performance Bond and Payment Bond in the amount of 100% of the total Bid Price, with the City of Sunny Isles Beach as the Obligee, as security for the faithful performance of the Contract and for the payment of all persons performing labor or furnishing materials in connection herewith within ten (10) calendar days after issuance of the Notice of Award by the City. The Performance and Payment Bond shall continue in effect through the contract term. The bonds shall be with a surety company authorized to do business in the State of Florida and having been in business with a record of successful continuous operation for at least five (5) years. The Performance Bond shall guarantee all work and materials furnished under the Contract including losses resulting from defects in the materials or improper performance of Work under the Contract that may appear or be discovered during performance of the Work or during any applicable warranty period after completion of all Work, and for latent defects, during the time periods set forth in section 95.11(3)(c), Florida Statutes. The Payment Bond shall stay in effect until the time required by section 255.05, Florida Statutes, for the making of claims under such Bond, or when all claimants submitting valid claims have been paid, whichever is later. 2.11 DELIVERY & PROTECTION OF MATERIAL AND EQUIPMENT All material must be F.O.B. destination. The Contractor is solely liable and responsible for the purchase, delivery, and installation of all materials and equipment. The contractor will make all arrangements in regards to delivery, storage, installation, and warranty requirements. Contractor will be solely liable for receiving, inspecting, accepting, and replacing any damaged materials or equipment and filing any and all claim with suppliers or transporters. Contractor is responsible for the protection of all materials and equipment from adverse weather conditions, damage, deterioration, and theft until the Work has been accepted by the City. All bidders shall quote prices based on furnished and installed materials. Bidder shall hold title to the goods until such time as they are delivered to, and accepted by, an authorized City representative. 2.12 INSURANCE Comprehensive General Liability Insurance General Liability for Bodily Injury & Property Damage with limits of $1,000,000 per occurrence and $2,000,000 annual aggregate on a primary and non-contributory basis, , including the City of Sunny Isles Beach as Additional Insured, with a Waiver of Subrogation to the City and a Hold Harmless Agreement in accordance with City’s legal advisor to be included. Coverage must be offered in a form no more restrictive than the latest edition of the Comprehensive General Liability policy,