RFP 26-04-01 CITYWIDE HOLIDAY LIGHTING AND DECORATING SERVICES

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13 RFP 26-04-01 CITYWIDE HOLIDAY LIGHTING & DECORATING SERVICES CITY OF SUNNY ISLES BEACH 18070 Collins Ave. | Sunny Isles Beach, FL 33160 305.792.1707 | sibfl.net | Purchasing@sibfl.net D. The Proposer must submit its most recent audited financial statements to substantiate the financial stability of the Proposer, specifically, two years of its most recent certified business financial statements as of a date not earlier than the end of the Proposer’s preceding official tax accounting period, together with a statement in writing, signed by a duly authorized representative, stating that the present financial condition is materially the same as that shown on the balance sheet and income statement submitted, or with an explanation for material change in the financial condition. Review will be made on a Pass or Fail Basis by the city’s CPA. Please note, financial statements are exempt from public records request 2.5 TERM OF CONTRACT The awarded contract will commence upon execution by both parties and shall be effective for an initial two (2) year term, contingent upon the approval of the contract by the City Commission, unless otherwise stipulated in the Notice to Proceed. The contract shall be contingent upon the completion and submittal of all required documents. However, in the event funding is not appropriated on an annual basis during any particular year within the contract period, the contract may be terminated upon thirty (30) days written notice to the Contractor. In such an event, the City shall only be responsible for the reasonable value of services performed prior to the effective date of termination. 2.5.1 OPTIONS TO RENEW – SUBJECT TO NEGOTATIONS Prior to, or upon completion, of the initial two (2) year term, the City shall have the option, at its sole discretion, to renew the contract for three (3) additional one-year terms. The Contractor agrees not to assign or transfer the contract, or any portion thereof, without written approval of the City. Prior to completion of each contract term, the City may consider an adjustment to price based on changes in the following pricing index: Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W): Miami-Fort Lauderdale, FL. It is the Contractor’s responsibility to request any pricing adjustment under this provision, which shall not exceed 5%. For any adjustment to commence on the first day of any exercised option period, the Contractor’s request for adjustment shall be submitted no later than ninety (90) days prior to expiration of the then current contract term. In no event will the price be increased or decreased by a percentage greater than the percentage change reflected in the C.P.I. as published by the U.S. Department of Labor. If no adjustment request is received from the Contractor, the City will assume that the Contractor has agreed the optional term may be exercised without pricing adjustment. Any adjustment request received after the commencement of a new option period may not be considered. The City reserves the right to negotiate lower pricing for the additional term(s) based on market research information or other factors that influence price. The City reserves the right to apply any reduction in pricing for the additional term(s) based on the downward movement of the applicable index.