RE-BID ITB 22-09-02 RENOVATIONS TO THE BILL LONE RESTROOM FACILITY

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City of Sunny Isles Beach |Invitation to Bid No. 22-09-02 13 2.8 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 period agreed upon. BONDING CAPACITY LETTER: Provide documentation of bidder’s total and single project bonding capacity and the name and current financial rating (A.M. Best) of the surety company utilized by your Firm. 2.9 DELIVERY & PROTECTION OF MATERIAL AND EQUIPMENT Requirements warrant that lead-times for furnishing and delivery of equipment and supplies will need to be considered to accommodate the project timeframe. Due to long fabrication and delivery lead times, Contractor shall provide to the City a list of equipment required to maintain orderly progress of the Work and those required to order immediately upon NTP. All material must be F.O.B. destination City of Sunny Isles Beach. 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.