Each bid must be accompanied by bid security made payable to Owner in an amount of 5 percent of bidder's maximum bid price and in the form of a certified check, cashier's check or a bid bond. The successful bidder will be required to obtain a Performance Bond and a Payment Bond each in the amount of 100% of the contract amount. All bonds shall be executed by such sureties as are named in U.S. Department of the Treasury Circular 570. A bond signed by an agent or attorney-in-fact must be accompanied by a certified copy of that individual's authority to bind the surety. The contract is to be financed in whole or in part by bonds which are required to be sold after receipt of bids, or by federal or other funds which will not be readily available at the time bids are received. In accordance with LA. R.S. 38:2215D, Bidders may not withdraw their bid within one hundred twenty (120) days after the actual date of opening thereof. The Owner reserves the right to reject any and all bids for just cause in accordance with Louisiana R.S. 38:2214B. Section 746 of Title VII of the Consolidated Appropriations Act of 2017 (Division A - Agriculture, Rural Development, Food and Drug Administration, and Related Agencies Appropriations Act, 2017) and subsequent statutes mandating domestic preference applies an American Iron and Steel requirement to this project. All listed iron and steel products used in this project must be produced in the United States. The term "iron and steel products" means the following products made primarily of iron or steel: lined or unlined pipes and fittings, manhole covers and other municipal castings, hydrants, tanks, flanges, pipe clamps and restraints, valves, structural steel, reinforced precast concrete, and construction materials. The de minimis and minor components waiver apply to this contract.
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