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result of having provided this estimate or of having any typical or measurable requirement in the past . The contractor further understands and agrees Pasco County may require services in an amount less than or in excess of the estimated annual contract amount, and the quantity actually used , whether in excess of the estimate or less than the estimate , shall not give rise to any claim for compensation other than the total of the unit prices in the contract for the quantity actually used . SURETY REQUIRED 1 . Bid Surety : The surety required is in the amount of $2 , 000 . 00 . A Bid Bond , cashier's check, or certified check, in the amount of five ( 5 ) percent of the amount of the bid , made payable to Pasco County shall accompany each bid . The bid surety of all bidders shall be retained until after the award of the contract is made . The bid surety of the successful bidder shall be retained until the posting of a Performance Bond . The failure of the bidder to accept an award and file acceptable Performance and/or Payment Bonds within fifteen ( 15) days after award shall be just cause for cancellation of the award and the forfeiture of the bid surety to Pasco County as liquidated damages . Award may then be made to the next lowest, responsive , and responsible bidder. The bond shall be a Corporate Surety Bond issued by a surety company authorized to do business in the State of Florida . 2 , Performance Surety : A Performance Bond , in the amount of $50 , 000 . 00 of the bid , shall be required of the successful bidder to ensure satisfactory completion of the work . The bond shall be a Corporate Surety Bond issued by a surety company authorized to do business in the State of Florida . The Attorney in Fact, who signs the bond , must file with the bond , a certificate and effective dated copy of a Power of Attorney . The surety company shall have a current, valid Certificate of Authority issued by the State of Florida . The surety company shall have current, valid Certificate of Authority issued by the United States Treasury Department under Sections 9304 to 9308 of Title 31 of the U . S . Code . The surety company shall be in full compliance with the provisions of the Florida Insurance Administrative Code , and shall have at least twice the minimum surplus and capital required by the same at the time the Invitation for Bid is issued . 3 . Alternative Surety : A certified check for cash escrow deposit, in the face amount of the contract, such as a Personal Bond , Property Bond , or a bank or savings and loan association Letter of Credit may be tendered in lieu of a Bid , Payment, or Performance Bond subject to approval by Pasco County , VENDOR'S EQUIPMENT Responding vendors must submit a list of owned equipment and major tools , and a list of current employees and respective skill level or discipline . Pasco County , at its sole discretion , reserves the right to award this work to vendors who are able to demonstrate current ownership and possession of the equipment, tools , and personnel deemed reasonably sufficient to perform the specified work at the lowest possible cost . It is Pasco County's intent to award this work to a vendor at the lowest possible cost, while securing sufficient quality of services . Preference may be given to those vendors who own and possess the necessary tools , equipment, and services to minimize reimbursement costs associated with rentals and purchases from third parties . - 16- ( Bid No . 07- 125K )