Project is under statutory amount of $50,000.00 therefore a bid bond is not required.I have provided a Cashier's Check for 5.00% of the bid total amount. We propose to complete this work within 120 days from the date of receipt of the NOTICE TO PROCEED/WORK ORDER. Bid Documents Available: Friday, January 28, 2022 If the bid exceeds $50,000, it shall be accompanied by a certified check or a cashier's check made payable to the State of Oklahoma, or a Corporate Surety Bond of a surety company duly authorized to do business in the State of Oklahoma, in the sum of five percent (5%) of the total amount of the bid (unless otherwise specified in the bid documents) which is submitted as bid security, conditioned upon the Bidder's entering into a contract with the State of Oklahoma in accordance with the terms of the bid. In submitting the bid, it is understood that the right is reserved by the State of Oklahoma to reject any and all bids, and it is agreed that this bid may not be withdrawn for a period of thirty (30) days after the date of closing of same. Work is to start within ten (10) days after receipt of NOTICE TO PROCEED/WORK ORDER. Cost Estimate: $ 180,000.00 Performance Bond for 100% of the value of the Contract to insure completion of the Work. Defect Bond for 100% of the value of the Contract to provide correction of defects in the construction and equipment for one year after acceptance of the Work; and Payment Bond for 100% of the Contract to assure that the Owner is protected from the action of Subcontractors, suppliers and employees for unpaid debts of the Contractor. The State reserves the right to hold the bid security of the three (3) lowest Bidders until the successful Bidder has executed the contract and furnished the required bonds and proof of insurance.
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