Renovation of an educational facility in Saratoga Springs, New York. Completed plans call for the renovation of a educational facility.

Each bid must be accompanied by cash, by certified check of the bidder or by a bid bond prepared on a standard form, duly executed by the bidder as principal, and having as surety thereon a surety company authorized to do business within the State of New York. Bid security shall be in an amount not less than 10 percent of the base bid and alternates or not less than 10 percent of the sum of base bids and alternates where such base bids may be considered cumulative. Such cash or checks will be returned to all, except the three lowest formal bidders, within three working days after the formal opening of bids and the remaining cash or checks will be returned to the three lowest bidders within 48 hours after the Owner and the accepted bidder have executed a contract. If no contract has been so executed within 45 days after the opening of bids, bid security will be returned upon demand of the bidder at any time thereafter so long as he has not been notified of the acceptance of his bid. Simultaneously with his delivery of the executed contract, the successful bidder must deliver to the Owner three (3) copies of an executed bond in the amount of 100 percent of the accepted bid as security for the faithful performance of the contract and for the payment of all persons performing labor or furnishing materials in connection therewith, prepared in the standard form of Performance Bond, Labor and Materials Payment Bond, AIA Form A312 and having as surety thereon such surety company or companies are A. M. Best rated at "A/XII or better, appear on the Treasury Department's list of "Approved Sureties", are authorized to transact business in New York State, and are acceptable to and approved by the Owner. This requirement will not apply in the case of contracts for supplies only and involving no labor on the site. No bidder may withdraw their bid within 45 days after the date of the actual bid opening. The Board of Education reserves the right to reject any or all bids and to waive any informalities or defects in such bid either before or after the bid opening.