The Owner reserves the right to reject any and all bids or waive any informalities at its discretion. 1.3 BID SECURITY A. Bid security in the form of cash, certified check or bid bond made payable to the Owner shall be submitted with each bid in the amount of 10 percent of the aggregate bid amount as a guarantee that if the bid is accepted a contract will be entered into and the performance of the contract properly secured. No bids may be withdrawn for a period of sixty (60) days after opening of bids. Owner reserves the right to reject any and all bids and to waive informalities and irregularities. 1.4 PREBID MEETING A. Prebid Meeting: No prebid meeting is scheduled. Prospective bidders are encouraged and can visit the site during normal business hours.
1) The project name, 2) Your company name and address, 3) Your contact name, 4) Your phone number. 1.6 TIME OF COMPLETION AND LIQUIDATED DAMAGES A. Successful bidder shall begin the Work on receipt of the Notice to Proceed and shall complete the Work within the Contract Time. Work may be subject to liquidated damages. 1.7 BIDDER'S QUALIFICATIONS A. Bidders must be properly licensed under the laws governing their respective trades and be able to obtain insurance and bonds required for the Work. Insurance in a form acceptable to Owner will be required of the successful Bidder. B. The successful bidder shall furnish Performance and Labor and Material Payment Bonds in an amount equal to one hundred (100) percent of the bid amount, with sureties to be approved by the Owner, and in the form required by the Bid Documents. C. The successful bidder shall pay not less than the prevailing rates of wages to all laborers, workmen, and mechanics performing work on the project, as ascertained by the Illinois Department of Labor, and shall submit certified payroll records in compliance with the Prevailing Wage Act (820 ILCS 130) and the requirements of the Bid Documents. D. The successful bidder shall furnish insurance in the form and amounts required by the Bid Documents, including guarantee of indemnity to the Owner and Architect against any and all claims which might arise for damages to persons or property due to the negligence of himself, his employees or agents, during construction of said improvements and until the said improvements have been finally accepted as complete by the Owner.
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