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3 . BOND REQUIREMENTS 3 . 1 . Bid Security : Each bid must be accompanied by a cashier' s check, certified check or bid bond in the form attached to these specifications payable to INDIAN RIVER COUNTY in the amount of five ( 5 ) percent of the bid submitted . Bid security will be retained if the successful bidder fails to execute a contract with the County substantially in the form attached hereto within fifteen (15 ) days after notification of award of the contract . The OWNER shall within twenty (20) business days after the opening of the bids , return the bid securities of all bidders except those posted by the three lowest responsive bidders, whose bid securities will be returned upon the final award and execution of the contract between the successful bidder and the OWNER, and after proof of insurance and the Public Construction Bond as specified in the Contract Documents has been received by OWNER. 3 . 2 . Public Construction Bond : For Bids exceeding $ 100 , 000 . 00 the CONTRACTOR shall furnish a Public Construction Bond in the form attached to these Instructions to Bidders in an amount of 100 % of the lump sum amount bid as security for the frill and complete performance of the contract . The Public Construction Bond shall remain in effect for one ( 1 ) year after final payment under this Contract . The Surety shall be authorized to issue surety bonds in Florida and be included in the most recent United States Department of Treasury List of Acceptable Sureties . Contractor shall require the attorney-in-fact, who executed the Performance Bond, to affix to each a current certified copy of their Power of Attorney , reflecting such person ' s authority as Power of Attorney in the State of Florida. Further, at the time of execution of the Contract, the Contractor shall provide a copy of the Surety' s current valid Certificate of Authority issued by the United States Department of the Treasury under 31 United States Code sections 9304 - 9308 . The Public Construction Bond shall be submitted in the form specified by the Owner . 4 . PREPARATION OF BIDS One signed, original Bid and two (2) copies shall be submitted on the prescribed form provided in these specifications . All copies must be plainly marked by the bidder who will be responsible for their correctness . All blank spaces must be filled in as noted in ink or type . Bids having erasures or corrections must be initialed in ink by the bidder . Only one bid from any individual firm, corporation, organization or agency under the same or different name shall be considered . Should it appear to the OWNER that any bidder is interested in more than one bid , all bids in which such bidder has interest would be rejected . If SUBCONTRACTORS are allowed , bids shall be accompanied by a list of all SUBCONTRACTORS that the bidder proposes to employ ; subcontractors shall not be changed without approval of the OWNER, as set forth in the Contract Documents . A bidder is expected to fully inform himself as to the requirements of the specifications and failure to do so will be at his own risk. A bidder shall not expect to secure relief on the plea of error. No alternate bids shall be submitted unless specifically requested in the Invitation to Bid documents . Bidders are notified that the bids are for complete installation of sports lighting per ball field and includes all items of Work and materials . The Work may be less or more than so estimated , and , if so , no action for damages or for loss of profits shall accrue to the Contractor by reason thereof. 5 FAPublic Works\ENGINEERING DIVISION PROJECTS\ 1042 V13 Sports Village Lighting\Admim\bid documents\Bid Does V13SV Lighting revised 12- 13 - IO . doc