20220637 - Preventative Pavement Maintenance

Each Proposal must be accompanied by a scanned copy of a bid deposit in the form described in the
Advertisement for Bids, Specification Section 00030, as a guarantee on the part of the bidder that he will, if
called upon to do so, enter into contract in the attached form, to do the work covered by such proposal and at the
price stated therein and to furnish acceptable surety for its faithful and entire fulfillment. Such certified check
or bidder's bond shall be made out to the Owner and shall be subject to the conditions specified in the Proposal.
The bid deposits of all except the three lowest bidders will be returned within three days after the opening of
bids. The bid deposits of the three lowest bidders will be returned within 48 hours after the Contract is awarded
to the successful bidder and the signed agreement has been delivered and the required bonds have been finally
approved by the Owner, or after rejection of all bids.
Surety companies providing and executing Bid Bonds shall appear on the United States Treasury Department's
most current list (Circular 570) as holding certificates of authority as acceptable sureties on federal bonds. The
penal sum of such bonds shall not exceed a company's underwriting limitation as stated therein. A surety
company shall be licensed in the State in which it provides a bond and in the State where the Contract work is
to be performed.
Failure to provide a bid bond from a qualified company shall be a basis for rejection of a bid as non-responsive
and non-responsible.