Specifications include, but are not limited to: Option I is for a fixed bid price per gallon for all bulk and local fuel required by these Specifications. If the City awards this Option I to a vendor, the City will pay the fixed bid price per gallon bid for the entire estimated quantity to be purchased for the year for both Local and Bulk Delivery of a total estimated 185,000 gallons. At the successful bidder's choice (as chosen on the Bid Form), this will be paid to the successful vendor in one payment (pre-purchase) within thirty (30) calendar days of the signing of the awarded contract by the successful bidder or it may be paid on a pay as you go basis. If the successful bidder chooses the former, then the successful bidder must provide the City with an irrevocable Letter of Credit (LOC) satisfactory to the City which secures the City’s pre-payment amount less any oil delivered as provided in the General Provisions. If the successful bidder chooses the latter, then no LOC is required. Bidder may submit the same or separate pricing for transport truck deliveries and tank wagon deliveries on the Bid Form. Transport and tank wagon bids may be awarded separately as determined to be in the best interest of the City. Option II is for a fixed margin or mark-up bid in cents per gallon to a published base price, e.g. the posted tank car price (or other acceptable published base pricing mechanism) to be used on the day of each delivery. Bidder must specify in the bid the proposed base price mechanism. The City will pay the successful vendor the invoice price (bid fixed margin plus base price) within fifteen (15) calendar days of receipt of invoice. In this Option II, the vendor must provide, with the invoice, the certified published base price for that day of delivery and name of the supplier/wholesaler for every delivery date. No performance security is required from the vendor if this Option II is awarded by the City. Bidder may submit the same or separate pricing for transport truck deliveries and tank wagon deliveries on the Bid Form. Transport and tank wagon bids may be awarded separately as determined to be in the best interest of the City
