This Agreement requires Prevailing Wages if the total bid amount exceeds $15,000. If the total bid amount is under $15,000, then Prevailing Wage language will be removed prior to award. Disadvantaged Business Enterprise (DBE) participation applies to this IFB and a DBE goal of twentytwo point two percent (22.2%) is required. Payment Bond (ADM-2009) Requirement: If the successful bidder s bid exceeds $25,000, the successful bidder shall furnish a Payment Bond for not less than 100 percent (100%) of the total amount payable by the terms of this Agreement. The Payment Bond is due prior to the start date of work. No work may commence without receipt of a valid Payment Bond. The Payment Bond must be in effect at all times for the duration of the Agreement. If the Payment Bond expires during the term of the Agreement, a new Payment Bond must be provided to Caltrans Contact Manager not less than 10 business days prior to its expiration. Failure to maintain a Payment Bond for the full term of this Agreement will be grounds for termination for default in addition to other legal remedies Caltrans may have. Inadequate or lack of a Payment Bond does not negate Contractor s obligations under this Agreement. This Agreement will commence on the start date June 23, 2022 (est) as presented herein or upon approval by Caltrans, whichever is later, and no work shall begin before that time. This Agreement is of no effect unless approved by Caltrans. The Contractor shall not receive payment for work performed prior to approval of the Agreement and before receipt of notice to proceed by the Caltrans Contract Manager. This Agreement shall expire on December 22, 2023 (est). The services shall be provided during 8:00 a.m. to 5:00 p.m., Monday through Friday, except State holidays.
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