2020-ITB_F-0000000007 - HARRISON CAMPUS H-TECH BUILDING HVAC REPLACEMENT

Bidders shall be required to furnish a satisfactory performance bond and a satisfactory labor and material payment bond, each in the amount of one hundred percent (100%) of the accepted bid. Bonds shall be provided before award of any contract in accordance with MCL 129.201, the terms of which are incorporated herein as if fully restated and as applicable. Contractor will pay the cost of all bonds he requires. The bonds shall consist of performance bond as security for the faithful performance of the contract, and labor and material bond as security for the payment of all persons performing labor and furnishing materials in connection with the contract. Bonds and sureties shall be acceptable to the Owner. However, nothing contained herein or in the general conditions relating to waivers and sworn statement in connection with payments shall make the Engineer, Construction Manager or Owner liable to the surety for adequacy of waivers and sworn statements. It shall be responsibility to the surety to determine the adequacy of the waivers and sworn statements.
The bidder acknowledges the right of the Owner to reject any or all bids and to waive any informality or irregularity in any bid received. It is the intent of the Owner to award a contract to the lowest responsible bidder provided the bid has been submitted in accordance with the requirements of the bidding documents and does not exceed the funds available. However, the College reserves the right to award to other than the low bidder if, in the opinion of the College, it is in their best interests to do so. The Owner may require and conduct post-bid interviews and/or require the submission of additional information to assist in its award determination.