Requirements contract to perform third party witnessing of elevator inspections and tests. This contract consists of two service options. Service option 1 covers manhattan and the bronx. Service option 2 covers brooklyn, queens, and staten island. Term: 3 years + 3 year renewal + 1 year time extension. The estimated amount of the contract for service option 1 is one million five hundred thousand dollars ($1,500,000.00) and the estimated amount of the contract for service option 2 is one million five hundred thousand dollars ($1,500,000.00). Questions due date 01/26/2023 A Bid Bond in the amount of $300,000 or Certified Check or Bank Check in the amount $30,000, must be included with the Bid. Performance and Payment Bonds in the amount of a minimum of $1,500,000 shall be obtained by the selected vendor and shall remain in effect throughout the term of the Contract awarded as a result of this solicitation. This $1,500,000 amount reflects the anticipated total maximum dollar value of any open Task/Work Orders that the Agency orders the selected vendor to substantially complete by the conclusion of the contract term. Open Task/Work Orders mean any Task/Work Orders that have been issued, but for which the work has not yet been substantially completed as determined by the Agency, in its sole discretion. In the event that the maximum amount of Open Task/Work Orders exceeds $1,500,000 at any point during the Contract term, the selected vendor, upon Notice to the Agency and prior to commencing work, shall be required to adjust the value of the Performance and Payment Bonds to reflect the increased total maximum amount of Open Task/Work Orders. {until such time as the total amount of all Open Task/Work Orders drops down to or below $1,500,000.} Three years, with a three years renewal option
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