For Guide Rail Improvements - Bridges 21A and 49C Bids exceeding Five Thousand Dollars ($5,000.00) shall be accompanied by Bid Security in the form of a certified check, bank cashier's check, trust company treasurer's check, or Bid Bond prepared on the form contained in the Bid Documents. If the Bid Security is in the form of a Bid Bond, it shall be accompanied with a power of attorney evidencing the authority of the agent of the surety to execute the bond as of the date of the Bid. The Bid Bond form must be executed by a surety named in the current list of "Companies Holding Certificates of Authority as Acceptable Sureties on Federal Bonds and as Acceptable Reinsuring Companies," as published in Circular 570 (as amended) by the Audit Staff, Bureau of Government Financial Operations, U.S. Treasury Department, and the amount of the bond shall not exceed the underwriting risk of such surety as set forth in said circular or revision thereof. The surety shall be licensed and qualified to do business in the Commonwealth of Pennsylvania. The Bid Security shall name as payee or obligee, as appropriate, the County, and shall be in an amount not less than Ten Percent (10%) of the Bid Sum. With the exception of the Bid Security accompanying the lowest proposal, Bid Security in the form of Bid Bonds will be returned upon Bidder's request on or after sixty (60) calendar days following the opening of Bids. Bid Security accompanying the lowest proposal will be returned upon submission and approval of the required Payment Bond and Performance Bond by the successful Bidder to the County. If the ITB package you received is missing any pages, contact the County of Berks Purchasing Department at telephone number 610-478-6168.
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