Renovation of a residential development in Binghamton, New York. Completed plans call for the renovation of a residential development.

Binghamton Housing Authority (BHA) to request bids for Construction Services for the North Shore Fire Alarm Upgrade Project at the Binghamton Housing Authority (BHA) located at our North Shore location at 35 Exchange Street, Binghamton, NY 13901. The Fire Alarm Upgrade is located between the two ten story towers that houses residential apartments for tenants that are low-income, elderly, and/or disabled. The Binghamton Housing Authority (BHA) is requesting bids from qualified Bidders for the proposal for the Fire Alarm upgrade, that includes and is not limited to new addressable fire alarm system, panels, wiring, detectors, sensors, annunciators and transmitters per the attached requirements at 35 Exchange Street & 24 Isbell Street, Binghamton, NY 13901. The system will cover 2 - 10 story high-rise apartment buildings with a connecting breezeway on the first floor. Bid Bond Yes Question Deadline 01/10/2025 at 2:00 PM ET Please submit questions to: megan@binghamtonha.org or by fax: 607-204-0055. Responses to all questions will be broadcasted out to potential bidders January 14, 2025. Award February 24, 2025 Start of project Spring of 2025 All bids must be accompanied by a bid security/guarantee which shall not be less than five percent (5%) of the amount of the bid. The bid guarantee may be a certified check, bank draft, U.S. Government Bonds at par value, or a bid bond secured by a surety company acceptable to the U.S. Government and authorized to do business in New York State where the work is to be performed. Certified checks and bank drafts must be made payable to the order of the Binghamton Housing Authority. Failure to submit a bid guarantee with the bid shall result in the rejection of the bid. Performance Bonds. Performance bonds for 100% of the contract price are means to ensure that the contract is successfully completed. The performance bond guarantees that if the contractor is unable to complete the contract, the surety company will step in to finish the work. In the case of a letter of credit or cash escrow, the BHA may use these funds to complete the contract work. Payment Bonds. The payment bond for 100% of the contract price is a method of ensuring that the contractor pays the subcontractors and suppliers. By requiring payment bonds, the PHA avoids becoming entangled in disputes concerning payment of subcontractors and suppliers by the general contractor. The surety underwriting the payment bond ensures the contractors and suppliers will be paid. Often, performance and payment bonds are combined into a single document. Failure to pay subcontractors for work performed in commercial contracts may often lead to the subcontractor filing a mechanic's lien against property owners to obtain payment for services rendered. The BHA contracts require payment bonds to prevent this problem and ensure that no liens will be filed against any BHA building or property. Clause 24 of form HUD-5370, General Conditions of the Contract for Construction, clearly forbids the placement of liens and is binding on any contractor, subcontractor, and material supplier. The BHA reserves the right to accept a Bid Guarantee in lieu of this requirement. The BHA reserves the right to accept or reject all or part of any bid submitted. The BHA reserves the right to waive response informalities and accept clarifications or revisions as needed.