The Housing Authority of the City of Paterson reserves the right to reject any and all Bids or to waive any informality in the Bidding. No Bid shall be withdrawn, for a period of sixty (60) days subsequent to opening of Bids without the consent of the Housing Authority of the City of Paterson. Bid must be accompanied by a Bid Guaranty which shall not be less than five percent of the amount of the total Bid. At the option of the bidder, the Guaranty may be a certified check, bank draft, U.S. Government Bond (at current date market value) or a Certificate of Guarantee Bond from a surety company duly authorized to do business in this State and satisfactory to the Housing Authority of the City of Paterson. Failure to Submit a Bid Guarantee and Consent of Surety With the Bid Shall Result in Rejection of the Bid. The work performed under this project is 100% financed under the 2019/2020/2021 Capital Fund Program (CFP) by United States Department of Housing and Urban Development Act of 1968, as amended, and is an Equal Opportunity for Businesses subject to Section 3 requirements. All bidders awarded a contract in excess of $17,500.00, must submit a Performance Bond in the full amount of the award. All Bidders must be licensed, registered or otherwise legally permitted to conduct construction contracting business in the State of New Jersey and must satisfy all insurance requirements set forth in the Bid Specifications. Minority Business Enterprises (MBE) will be offered full opportunity to bid and will not be subjected to discrimination on the basis of race, color, sex, or national origin in consideration of an award. All Bidders are hereby notified that they must comply with all applicable Federal, State, and Municipal Laws, rules and regulations, including, but not limited to those pertaining to Affirmative Action, Equal Opportunity, Ownership, Disclosure, and Security. Bidders must also comply with NJ Statutes 40A:11-16, with regard to listing subcontractors.
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