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ARTICLE SIX <br />PROCUREMENT OF -SERVICES <br />RISK MANAGEMENT IN PROCUREMENT <br />A. BID SECURITY ALLOWED ON ANY SOLICITATIONS. The <br />Purchasing Manager may require a Bid Security for <br />any Bid Invitation or Request For Quotation issued <br />by the Purchasing Division. The security shall be <br />a bond provided by a surety company authorized to <br />do business in this state or the equivalent in <br />cash, certified check, cashiers check, irrevocable <br />letter of credit or an alternate form of securitv <br />for the same purpose, subject to the same <br />Attorney as a bid security. <br />B. AMOUNT OF BID SECURITY. Bid security shall be in <br />C. REJECTION OF BIDS FOR NONCOMPLIANCE WITH BID <br />SECURITY REQUIREMENTS. When the solicitation <br />requires security, noncompliance mandates the bids <br />be rejected, unless itis determined thatthie-bid <br />the security requirements. Failure to supply bid <br />security with the bid at the time of the bid <br />opening shall automatically disqualify the bidder <br />as non-responsive to the requirements. <br />D. WID, OF BT . Aft bids are opened, they <br />shall be irrevocable for 60 days or a period <br />specified in the invitation for bids, except as <br />provided in Section 3.2, of these Regulations. If <br />a bidder is permitted to withdraw its bid before <br />awa-r4, no action shall—betaken against th-e--bidder <br />or the bid security. <br />12.2 PERFORMANCE AND PAYMENT BONDS <br />Performance and payment bonds or equivalent <br />acceptable security shall be required at the <br />discretion of the Purchasing Manager. <br />39 <br />SmeadSoft Reprint Date: Monday, August 12, 2013 - 15:25:26 - OfficialDocuments:674, Attachment Id 0, Page 46 <br />f <br />