Bid Proposals shall be on forms furnished within the Project Manual. Each Bidder shall agree not to withdraw a Bid Proposal for a period of thirty (30) calendar days after date for receipt of bids. Each bid proposal shall be accompanied by a Bid Security Deposit in the form of a bid bond or certified check made payable to Spring Lake Public Schools for not less than five percent (5%) of the Base Bid sum as a bid guarantee. Familial Disclosure Statement: A sworn and notarized statement in compliance with Michigan Compiled Laws, MCL.380.1267, disclosing any familial relationship existing between the Bidder, or any employee of the Bidder, and any member of the Board of Education of the School District or the Superintendent of the School District, must accompany each Bid Proposal. The Iran Economic Sanctions Act: A sworn and notarized statement in compliance with Michigan Public Act No. 517 of 2012 must accompany each Bid Proposal. The Owner will not accept a bid that does not include all of these forms and statements. The successful Bidder shall provide a Performance Bond and a Labor and Material Payment Bond, each in the amount of one hundred percent (100%) of the contract amount. The cost of such bonds shall be included in the Bid Proposal. The Bid Security Deposits will be returned to Bidders promptly after successful Bidder executes a contract with the Owner and has delivered to the Owner all required bonds and insurance certificates. The amount of the Bid Security Deposit shall be forfeited to the Owner if the successful Bidder fails to enter into a contract and furnish required bonds and insurance certificates within ten (10) calendar days of award of contract. The Owner reserves the right to reject any or all Bid Proposals, either in whole or in part, and to waive any informalities and irregularities in the Bid Proposals and in the bidding.
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