Shall be submitted in strict accordance with the Instructions to Bidders and the Standard Form of Proposal attached to the Specifications The Contractor shall submit a Surety Bond or Certified Check in the amount of 5% of the total work for each project made out to the Owner. The security shall be issued by a surety licensed to conduct business in the State of Maryland. The Owner reserves the right to retain the security of the next two lowest bidders until the low bidder enters into the Contract or until sixty (60) days after bid opening. PERFORMANCE BOND AND PAYMENT BOND. Shall be in accordance with the AIA Document A701 2018 Article 7 in the amount of 100% of the value of the total work. The Contractor shall commence work under this Contract upon receipt by him of the Notice to Proceed, prosecute said work diligently, complete and have ready for use not later than September 30, 2022. The time stated for completion shall include final clean-up of the premises, removal of the contractor's equipment and supplies and receipt of the Use and Occupancy Permit. In case of failure on the part of the Contractor to complete the work within the time fixed in the contract or any extensions thereof, the Contractor shall pay the Owner, as fixed, agreed and liquidated damage, the sum $300.00 for each calendar day of delay. It is the goal of the Board of Education of Allegany County that Minority Business Enterprises be awarded a minimum of 10% of the costs of the project for which bids are being sought, and that such participation in those contracts or subcontracts resulting from the contracts not be subject to discrimination on the basis of political or religious opinion or affiliation, marital status, race, color, creed, or national origin, sex, age or any physical or mental handicap. PSC No. 01.035.23SR Board of Education of Allegany County reserves the right to accept or reject any/or all bids and to waive technicalities. Maximum subcontracting shall be 75% of the total contract value.
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