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10 <br />CITY OF SUNNY ISLES BEACH <br />18070 Collins Ave. | Sunny Isles Beach, FL 33160 <br />305.792.1707 | sibfl.net | Purchasing@sibfl.net <br />CITY OF SUNNY ISLES BEACH <br />18070 Collins Ave. | Sunny Isles Beach, FL 33160 <br />305.792.1707 | sibfl.net | Purchasing@sibfl.net <br />c)Proposing bidder must include with their bid response, a letter from their bonding company / <br />surety authorized to do business in the State of Florida, in the amount of $1,000,000 that <br />guarantees that the proposing Contractor will be able to provide Performance and Payment Bonds <br />at the time of an event. <br />2.3 TERM AND RENEWALS <br />This contract will commence upon execution by both parties which shall be the effective date succeeding <br />approval of the contract by the City Commission, or City Manager, unless otherwise stipulated in the Notice <br />of Award letter; and contingent upon the completion and submittal of all required proposal documents. <br />The successful contractor will be awarded a contract for three (3) years with the option to renew the <br />contract for one (1) additional two (2) year period, for a total of five (5) years. <br />In the event services are scheduled to end due to the expiration of this contract, the DMC shall continue <br />the service upon the request of the City. The extension period shall not extend for more than ninety (90) <br />days beyond the expiration date of the existing contract. The successful Contractor shall be compensated <br />for the service at the rate(s) in effect when the City invokes this extension clause. <br />2.4 PRICE <br />Prices proposed shall be valid for at least 120 days from the time of the ITB opening unless otherwise <br />extended and agreed upon by the City and Contractor. Prices quoted shall be firm for the initial contract <br />term of three 3 years. Upon contract renewal, the City may consider an adjustment to price based on <br />changes in the following pricing index: Consumer Price Index for Urban Wage Earners and Clerical Workers <br />(CPI-W): Miami-Fort Lauderdale, FL. It is the Bidder’s responsibility to request any pricing adjustment under <br />this provision, which shall not exceed 3%. For any adjustment to commence on the first day of any exercised <br />option period, the Bidder’s request for adjustment shall be submitted no later than ninety (90) days prior <br />to expiration of the then current contract term. In no event will the price be increased or decreased by a <br />percentage greater than the percentage change reflected in the C.P.I. as published by the U.S. Department <br />of Labor. If no adjustment request is received from the Bidder, the City will assume that the Bidder has <br />agreed the optional term may be exercised without pricing adjustment. Any adjustment request received <br />after the commencement of a new option period may not be considered. <br />The City reserves the right to negotiate lower pricing for the additional term(s) based on market research <br />information or other factors that influence price. The City reserves the right to apply any reduction in pricing <br />for the additional term(s) based on the downward movement of the applicable index. The City reserves the <br />right to reject any price adjustments submitted by the Bidder and/or to not exercise any otherwise available <br />option period based on the proposed price adjustments. Any continuation of the contract beyond the initial <br />period, and any option subsequently exercised shall be at the sole discretion of the City, and not a right of <br />the Bidder. Renewals shall be exercised only when such continuation is clearly in the best interest of the <br />City. <br />The total not to exceed of any awarded contract shall be $x per disaster, and contractor shall not exceed <br />said amount unless mutually agreed upon by City in writing. Should the contractor exceed the limits set <br />forth herein, it does so at its own risk and cost. <br />2.5 INVOICING/PAYMENT <br />Payment will be made only after receipt and acceptance of materials/services. Invoice format and <br />documentation should be acceptable for FEMA reimbursement. The City will not pay and/or reimburse <br />any additional costs including, but not limited to, travel, mileage, lodging, meals, and other travel and <br />subsistence expenses. Price proposals shall be inclusive of all such expenses.