Remodeling of a transportation facility in Olympia, Washington. Completed plans call for the remodel of a transportation facility.

Client Project Number: 2018-230 M (10) 5. BID GUARANTEE (Reference RCW 39.10.380) a) VALUE: ALL base bids and including proposed bid alternates totaling $300,000 or higher shall provide a bid guarantee in the amount of 5% of the Total Base Bid Amount plus all additive alternates in the Bidderis bid proposal. The bid guarantee shall be executed on a form acceptable to FORMA Construction Company. Bid values under $300,000 do not require bid security. The failure to provide a bid guarantee with the Bid Form shall render the bid non-responsive. b) FORM: Bidder shall furnish a bid guarantee in the form of a firm commitment, such as a bid bond (AIA A3I 0), postal money order, cash or cashieris check payable to FORMA Construction Company. FORMA Construction Company reserves the right to hold the bid guarantees of all Bidders for the shorter period of either the date the successful Bidder has executed a subcontract and furnished the required bonds and insurance certificates, or for a period of 60 days. If the apparent successful Bidder fails to execute all contract documents or provide bonds and insurance as required by the bid package within the time specified on the Bid Form, FORMA Construction Company may rescind the award without liability. c) BID ERROR/FORFEITURE: Should a Bidder discover an error in its bid after the bids have been opened, Bidder may request to withdraw its bid if it notifies FORMA Construction Company in writing within 24 hours of the bid opening and provides supporting documentation clearly and convincingly demonstrating the error. FORMA Construction Company may approve or reject the Bidder's request. If the request is approved, the bid may be withdrawn without penalty. If FORMA Construction Company rejects Bidderis request for withdrawal, the Bidder may be required to perform the work or forfeit its bid guarantee. If the bid was received by the Owner, the request shall be addressed to the Owner and the Owner will address the request. 6. PAYMENT AND PERFORMANCE BONDS (Reference RCW 39.10.380) a) A performance and payment bond, naming the GC/CM as oblige, in the amount of 100% of the Bid Package contract value, including all change orders, will be required from the Subcontractor for contracts in excess of three hundred thousand dollars ($300,000). The cost of this bond is to be included in the Base Bid for this work. An iA-" AM Best Rated Surety Company must issue this bond. See attached Payment and Performance Bond Forms. b) Bids under $300,000 do not require a Performance and Payment Bond. c) Performance and Payment Bonds and the Insurance Certificates required shall be forwarded to the GC/CM within seven (7) calendar days of receiving award. Construction is expected to begin January 2025. DIRECT ALL QUESTIONS TO AlexC@formacc.com