Contractors desiring to bid shall submit to the Architect evidence that they hold a contractor license in the classification of BUILDING CONSTRUCTION or FENCING that is in full force and effect. Every Bid submitted shall be accompanied by a Bid guaranty in the form of a certified check, cashier's check or bid bond in an amount of not less than five percent (5%) of the total amount proposed and shall be made payable to the Terrebonne Parish School District. All Bid bonds shall be accompanied by a duly authorized power of attorney and shall be guaranteed by a surety or insurance company currently on the U.S. Department of Treasury Financial Management Service list of approved bonding companies (U.S. Department of Treasury Circular 570) or by a Louisiana domiciled insurance company with at least an A- rating in the latest printing of the A.M. Best's Key Rating Guide or by an insurance company in good standing licensed to write Bid bonds which is either domiciled in Louisiana or owned by Louisiana residents. No Bid may be withdrawn for a period of 45 days after receipt of Bids. The time of completion of this project is of prime importance. All of the work required shall be completed within One Hundred Eighty (180) Calendar Days from the Notice to Proceed. Should the Contractor neglect, refuse to complete the work or obtain approval from the State Fire Marshals Office, if required, for occupancy on the date above, the Owner shall have the right to deduct from and retain out of such moneys which may be due or which may become due and payable to the Contractor, as scheduled in the Instruction To Contractors, for each and every day that such completion of the work is delayed beyond the prescribed dates, as liquidated damages and not as a penalty. If the amount due and to become due from the Owner to the Contractor is insufficient to pay in full any such liquidated damages, the Contractor shall pay the Owner the amount necessary to the effect such payment in full. Provided, however the Owner shall promptly notify the Contractor in writing of the manner the amount retained, deducted, or claimed as liquidated damages was computed.
To the extent permitted by applicable state and federal laws and regulations, the OWNER reserves the right to reject any and/or all Bids for just cause. Bid prices shall specifically EXCLUDE any and all taxes whatsoever. Act 1029 of 1991 exempts local governments from state and local tax effective September 1, 1991. Bid prices shall include any shipping/transportation charges, if applicable.
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