On a typical day for this contract, the supplier will service specified areas in accordance with the listed General Cleaning Standards and as determined by LSU Athletics in the PMAC from approximately 4:00am-9:30am. The remainder of the shift (after lunch break) will be spent finishing up routine tasks and doing other miscellaneous custodial work within the PMAC practice/team spaces. The PMAC is approximately 193,700 sqft. Refer to Spreadsheet - Attachment D - PMAC Square Footages for breakdown of total square footage.
The Supplier shall be required to provide a performance (surety) bond in the amount of one hundred seventy-five thousand dollars ($175,000) to insure the successful performance under the terms and conditions of the contract negotiated between the Supplier and the University. Any performance bond furnished shall be written by a surety or insurance company currently on the U.S. Department of the Treasury Financial Management Service list of approved bonding companies which is published annually in the Federal Register, 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 to write individual bonds up to 10 percent (10%) of policyholders' surplus as shown in the A.M. Best's Key Rating Guide or by an insurance company that is either domiciled in Louisiana or owned by Louisiana residents and is licensed to write surety bonds. No surety or insurance company shall write a performance bond which is in excess of the amount indicated as approved by the U.S. Department of the Treasury Financial Management Service list or by a Louisiana domiciled insurance company with an A-rating by A.M. Best up to a limit of 10 percent (10%) of policyholders' surplus as shown by A.M. Best; companies authorized by this Paragraph who are not on the treasury list shall not write a performance bond when the penalty exceeds 15 percent (15%) of its capital and surplus, such capital and surplus being the amount by which the company's assets exceed its liabilities as reflected by the most recent financial statements filed by the company with the Department of Insurance.The performance bond is to be provided within fifteen (15) working days from request. Failure to provide within the time specified may cause your bid to be rejected. In addition, any performance bond furnished shall be written by a surety or insurance company All or None- Bid shall be awarded to the lowest responsible and responsive supplier for all items A “Term Contract” is defined as an agreement with a supplier to provide specified goods and/or services on an as-needed basis at established prices, terms and conditions during a specific period of time (or term), and does not guarantee usage. Term Contract purchase orders (PO) issued serve as a binding contract with LSU. LSU reserves the right to authorize additional departments/campuses to use the contract as their needs arise; and Vendor shall honor all such purchase orders.
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