For HVAC York Fan Boxes Question Cuttoff Date & Time 1/25/2023 04:00:00 PM (ET) Bid Security and Performance Bond Required for all bids over $50,000. No bid may be withdrawn for a period of sixty (60) days after the date and time set for opening. A certified check or Bid Bond in the amount of 5 percent of the bid price must be attached hereto for bids greater than $50,000. This check must be made payable to the Lexington-Fayette Urban County Government, and will be returned when the material and/or services specified herein have been delivered in accordance with specifications. In the event of failure to perform within the time period set forth in this bid, it is agreed the certified check may be cashed and the funds retained by the Lexington-Fayette Urban County Government as liquidated damages. Checks of unsuccessful bidders will be returned when the bid has been awarded. The APPARENT LOW BIDDER shall furnish, before recommendation by the Division of Central Purchasing to the Urban County Council that the BIDDER'S bid be accepted, a Performance Bond, Certified Check or Cashier's Check, payable to the Lexington-Fayette Urban County Government, in the penal sum of 100% of the price of the materials and/or services proposed in the bid. The performance bond will not be returned to the bidder after delivery of the materials/services specified herein unless the bidder requests that the performance bond be returned. The certified / cashier's check will be returned when the materials and/or services specified herein have been delivered. In the event of bidder's failure to perform as specified herein, it is agreed that the monies represented by the performance bond or certified / cashier's check shall be retained by the Lexington-Fayette Urban County Government as liquidated damages. Contracts that are less than $50,000 will not require a 5% bid security or a performance and payment bond LFUCG reserves the right to reject any or all bid responses, to award in whole or part, and to waive minor immaterial defects in proposals. LFUCG may consider any alternative proposal that meets its basic needs.
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