RFP #2024-00-02 - 2024-00-02Green Ribbon Project-I-635Lake June

Proposals shall be accompanied a bid bond in the same amount from a reliable surety company, as acguarantee that the BIDDER will enter into a contract and execute performance bond and payment bondcwithin ten (10) business days after notice of award of contract to the Contractor or by a cashier's or certified check upon a national or state bank, or savings and loan in an amount not less than five percent (5%) of the total maximum bid price, payable without recourse to the City of Balch Springs. The notice of award of contract will be given by the OWNER within ninety (90) calendar days following the opening of bids.The successful bidder must furnish a performance bond upon the form provided in the amount of 100 percent of the contract price and a material and labor payment bond upon the form provided in the amount of 100 percent of the contract price from an approved surety company holding a permit from the State of Texas to act as surety, or other surety or sureties acceptable to the owner. Reference the Project Specifications and Forms of Contract and Bonds for Additional requirements. The right is reserved, as the interest of the owner may require, to reject any and all bids, and to waive any informality in bids received.