ITB 16-04-01 172nd Drainage Repairs (Final)

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City of Sunny Isles Beach | Invitation to Bid No. 16-04-01 10 Section 2 Special Terms and Conditions 2.1 PURPOSE OF BID The City of Sunny Isles Beach intends to secure a source for the installation of drainage repairs within the 172nd St corridor. 2.2 PRE-BID CONFERENCE Intentionally Omitted 2.3 CONTRACT TIME Contractor shall obtain Final Completion of all Work within Ninety (90) calendar days from the date stated in the Notice to Proceed issued by the City Manager or his designee. The Work shall be completed by 12/31/16 or by the Final Completion date specified in the Notice to Proceed, whichever occurs first. 2.4 METHOD OF AWARD Award, if any, shall be made in accordance with Section 1.31 of the General Terms and Conditions . 2.5 BID PRICE If a Bidder is awarded a contract under this solicitation, the Bid Price shall remain fixed and firm during the contract term. 2.6 PERFORMANCE BOND The City of Sunny Isles Beach shall require the successful Bidder to furnish a Performance 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 fo r 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 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. 2.7 BID BOND The City of Sunny Isles Beach shall require that every Bidder furnish a bid bond in the amount of 5% of the total bid price.