A Bid Security in the form of a Bid Bond (AIA Document A310), in an amount equal to 5% of the bid amount, and payable to City of Bentonville will be required of bidders as a guarantee that the Bidder will enter into a contract and execute performance and payment bonds after the Notice of Award has been issued. Bids submitted which do not contain the required Bid Bond will be rejected, without exception. Performance and Payment Bond (AIA Document A312), equal to the amount of the Contract sum, will be required of the bidder awarded the Contract. Bidders must comply with the regulatory and licensing requirements of the State of Arkansas and other applicable Arkansas Statutes. Pursuant to Arkansas Code Annotated 22-9-203, the City encourages all qualified small, minority owned, and women owned business enterprises to submit Bids for capital improvements. Encouragement is also made to all general (prime) contractors that in the event they subcontract portions of their work, consideration is given to the identified groups. No bid may be withdrawn for a period of forty-five (45) days after the opening of bids. The Owner reserves the right to reject any or all bids and to waive any informality or irregularity in any bid. The Owner reserves the right to reject any bid that is not responsive in that the bid does not respond exactly to the bid requirements and to reject the bid of any bidder that the Owner and/or the Architect determine is not a responsible bidder, in that the company does not have the ability, the integrity and liability in all respects to perform fully the contract requirements and conditions. In that regard, each bid will be evaluated based on certain criteria established by the Owner and the Architect, which will include, but are not limited to: inspection procedures, testing procedures, quality and workmanship based on past performance for the Owner and other projects of a similar nature and size, the suitability of the bidder for the particular project, ability to comply with the contract in all respects, ability to work with the Architect and the Owner. Job No. 21-146, BTV-36, JBP-083, 22-024, 2201
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