.1 For bids valued at $100,000 or greater before taxes, the Bidder shall submit with its bid, bid security in the form of an Electronic Bid Bond in an amount not less than 10% of the bid price. No other form of bid security is permitted. If the bid is valued at less than $100,000 before taxes, bid security is not required. .2 The bond shall be in accordance with the latest edition of the Canadian Construction Documents Committee (CCDC) Standard Form of Bid Bond, CCDC 220 or in an alternative form acceptable to the Owner. .3 The bond shall name "Halifax Regional Municipality" as the obligee and shall be signed, sealed, and dated by both Bidder and Surety. .4 The bond shall be submitted in original electronic format, and must be viewable, printable and storable by the Owner. PDF scans or other reproductions of bonds are not acceptable. .5 The version of the bond submitted by the Bidder must be verifiable by the Owner (with the Surety, or an approved verification service provider of the Surety) with respect to the totality and wholeness of the bond form, including: the content; all digital signatures; and all digital seals. .6 The Owner may verify the bond immediately or at any time during the life of the bond and at the discretion of the Owner with no requirement for passwords or fees. The results of the verification must provide a clear, immediate and printable indication of pass or fail. Bonds failing the verification process will not be considered valid and such bids may be rejected by the Owner. Bonds passing the verification process will be treated as original and authentic.Upon request, bid bonds of unsuccessful Bidders will be returned after the successful Bidder has entered into a contract with the Owner and provided the specified contract security, or earlier at the Owner's discretion.
.webp)
