Gulf Coast State College (GCSC) STEM Building - Site Work A bid bond or deposit, in the amount of five percent (5%) of the base bid will be required to accompany each bid, as guarantee that the successful bidder, will enter into a contract with the Owner, if desired by same. Any bid deposit must be in the form of a Certified Check, or a Cashier's Check. The bid bond or deposit will be held as liquidated damages, in the event that the successful bidder refuses to enter into a contract with the Owner. In addition, the successful bidder shall provide a one hundred percent (100%) Performance Bond and one hundred percent (100%) Labor and Material Payment Bond(s), with a surety insurer authorized to do business in the State of Florida as surety, satisfactory to the Owner. Failure to file a protest within the time prescribed in F.S 120.57(3), or failure to post the bond or other security as required by F.S. 287.042(2)(c) shall constitute a waiver of proceedings under Chapter 120, Florida Statutes. All protests must be delivered to Gulf Coast State College, Procurement and Auxiliary Services Office, Administration Building, Room 126, 5230 West US Highway 98, Panama City, FL 32401 within the time prescribed in Chapter 120, Florida Statutes to be considered valid. The bid shall remain in force for forty-five (45) days after the time of opening. Any person(s) requiring reasonable accommodations, in accordance with the provisions of the Americans with Disabilities Act, for attendance at the scheduled bid opening, shall contact the Office of the Executive Director of Procurement and Auxiliary Services, at least seventy-two (72) hours in advance of the scheduled bid opening deadline. The Owner (District Board of Trustees, Gulf Coast State College, Florida) reserves the rights to reject any and all bids, to waive informalities in bidding and to accept the bid that embraces such combination of proposals and alternates as may promote the best interest of the Owner.
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