Laserfiche WebLink
11.2 After the bid opening, no bid may be withdrawn, canceled or modified for a period <br />of 90 days after the time and date designated for the receipt of bids. <br />12. OPENING OF BIDS <br />12.1 Bids submitted will be opened publicly and read aloud at the time and place <br />stated in the Advertisement for Bids. <br />13. GOVERNING LAWS AND REGULATIONS <br />13.1 Bidders shall be familiar with all federal, state, and local laws, ordinances, rules, <br />and regulations that may in any way affect the Work. <br />14. LIQUIDATED DAMAGES <br />14.1 The City may incur financial loss if the Work is not substantially complete by the <br />date set forth in the Agreement. The Contractor (and his Surety) shall be liable <br />for liquidated damages in accordance with the Supplementary Conditions and the <br />Agreement. <br />15. PERFORMANCE BOND AND LABOR AND MATERIAL PAYMENT BOND <br />15.1 With the execution and delivery of the Contract, the Bidder shall furnish the <br />following Surety bonds of the forms contained herein: <br />a. Performance Bond guaranteeing full and faithful execution of the Work in <br />an amount equal to 100 percent of the Contract Sum, and including <br />guaranteed repair and maintenance of all defects due to faulty materials <br />and workmanship that appear within one year after completion of <br />contract. <br />b. Labor and Material Payment Bond guaranteeing full and proper protection <br />of all claimants supplying labor and materials in the Work in an amount <br />equal to 100 percent of the Contract Sum. <br />15.2 Bonds shall be executed by Surety authorized to do business in the State of <br />Florida and listed on the latest U.S. Treasury Department list of companies <br />holding certificates of authority as acceptable sureties on Federal Bonds. <br />15.3 Bonds executed by an Attorney -in -Fact on behalf of the Surety, shall have affixed <br />thereto a certified and current copy of Power of Attorney, indicating the monetary <br />limit of such power. <br />15.4 Qualifications: As to companies being rated acceptable: <br />A Bid Bond and Performance and Payment Bond must be executed by a Surety <br />Company of recognized standing, authorized to do business in the State of <br />Florida and having been in business with a record of successful continuous <br />operation for at least (5) years. <br />07/04 00100-5 <br />