Site work for a water / sewer project in Shreveport, Louisiana. Completed plans call for site work for a water / sewer project.

Contract I Meter Replacement Each BID must be accompanied by a BID Bond payable to the OWNER for five percent of the total amount of the BID. As soon as the BID prices have been compared, the OWNER will return the BONDS of all except the three lowest responsible BIDDERS. When the Agreement is executed the bonds of the two remaining unsuccessful BIDDERS will be returned. The BID BOND of the successful BIDDER will be retained until the Payment BOND and Performance BOND have been executed and approved, after which it will be returned. A Certified Check may be used in lieu of a BID BOND. A Performance BOND and a Payment BOND each in the amount of 100 percent of the CONTRACT PRICE, with a corporate surety approved by the OWNER, will be required for the faithful performance of the contract. The NOTICE TO PROCEED shall be issued within ten (10) days of the execution of the Agreement by the OWNER. Should there be reasons why the NOTICE TO PROCEED cannot be issued within such period, the time may be extended by mutual agreement between the OWNER and CONTRACTOR. If the NOTICE TO PROCEED has not been issued within the ten (10) day period or within the period mutually agreed upon, the CONTRACTOR may terminate the Agreement without further liability on the part of either party Bidder must agree to commence work on or before a date to be specified in a written "Notice to Proceed" of the Owner and to fully complete the project within NINETY (90) consecutive calendar days thereafter. Notice to proceed to be issued once material is delivered to project area. Bidder must agree to pay as liquidated damages the sum of $ 250.00 for each consecutive calendar day thereafter as hereinafter provided in the General Conditions The OWNER may make such investigations as he deems necessary to determine the ability of the BIDDER to perform the WORK, and the BIDDER shall furnish to the OWNER all such information and data for this purpose as the OWNER may request. The OWNER reserves the right to reject any BID, as permitted by law, subject to Louisiana Public Bid Law.