The Bidder shall provide a bid bond or certified check in the amount of 10% of the bid, but not in excess of $20,000.00. The successful Bidder shall furnish within ten (10) business days after notice of contract award a Performance Bond in statutory form in an amount equal to one hundred percent (100%) of the initial 2-year total contract price as security for faithful performance of this contract. No contract shall be executed unless, and until the required performance bond is submitted to the District's Department of Purchasing, and the Surety must be presently authorized to do business in the State of New Jersey. The cost of all performance bonds required under this contract shall be borne by the successful Bidder. The performance bond must be legally effective as of the date the contract is signed. The bond must indicate the successful Bidder's name exactly as it appears on the contract. (N/A) No interpretation of the meaning of the specifications or other contract documents will be made to any Bidder orally. Every request for such interpretation shall be in writing and e-mailed to Mr. Jose L. Mantilla at joman@paterson.k12.nj.us. Questions should be asked in consecutive order, from beginning to end, following the organization of the ITB. Each question should begin by referencing the ITB page number and section number to which it relates. Any form or written addenda to the specifications, which if issued, will be e-mailed to all prospective bidders no later than seven (7) business days, not including Saturday, Sunday and holidays, prior to the date fixed for the opening of proposals. Failure of the Bidder to receive such addendum or interpretation shall not relieve any Bidder from any obligation under his/her bid as submitted. All addenda so issued shall become part of the contract documents.
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