Boiler / Burner Service and Repair - 2024/2025 Bid Security as specified below
Each bid must be accompanied by bid security in the form of a bid bond in the amount equal to 10% of the Total Bid Amount. The Bid Bond shall be duly executed by the bidder as Principal and having a surety thereon by a Surety Company acceptable to the Owner. The Form to be executed for bid security shall be AIA Document A-310. This must be deposited by each bidder with his bid as guarantee that in the event the contract is awarded to him, he will within fifteen (15) days after written notification of such award, or intent to award, will provide the required Performance Bond, Labor and Material Bond, insurances and execute the specified contract. Refer to the Form of Agreement section for the exact terms and conditions of the required contract. In lieu of a Bid Bond, a certified check made out to the Seaford, UFSD in the amount of 10% of the Total Bid Amount will be accepted as bid security. The Performance Bond shall be of a corporate surety licensed to do business in the State of New York in the amount equal to the contract award amount, for the faithful performance of the terms, covenants, and Conditions of the Contract and a further separate Labor and Material Payment Bond of a corporate surety licensed to do business in the State of New York in the amount equal to the contract award amount guaranteeing the prompt payment of all indebtedness incurred by the Contractor or his Subcontractors, for supplies, materials or labor furnished, used or consumed in connection with, in, or about the construction of the project, including fuels, lubricants, power, etc., used or consumed directly in furtherance of such construction. The Performance Bond and the Payment Bond shall be on AIA Documents A-312. In lieu of Performance and Payment Bonds, a certified check made out to the Seaford UFSD in the amount of 10% of the Total Award Amount will be accepted as performance and payment security and will be held for the duration of the contract. The aforementioned bonding/security will cover all work authorized by participating school districts. However, if an individual participating school district plans to authorize major. The Successful Bidder shall guarantee his products and services against defective workmanship for a period of one (1) year and against defective material for a period of one (1) year. The aforementioned periods begin to run on the date of final payment for the authorized work. Award shall be for the period of July 1, 2024 through June 30, 2025.
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