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E- C • 6. Bid Securily 6.1. Bid Security shall be made payable to Owner, in the amount specified in the Bid Form and in the form of a certified check, cashier's check, treasurer's check or bank draft of any national or state bank or a Bid Bond (on the form attached) issued by a Surety meeting the requirements of paragraph 5. 1 of the General Conditions. 6.2. The Bid Security of the Successful Bidder will be retained until such Bidder has executed the Agreement and furnished the required Contract Security, whereupon it will be returned; if the successful Bidder fails to execute and deliver the Agreement and furnish the required Contract Security within 15 days of the Notice of Award, Owner may annul the Notice of Award and the Bid Security of that Bidder will be forfeited. The Bid Security of any Bidder whom Owner believes to have a reasonable chance of receiving the award may be retained by Owner until the earlier of the seventh day after the "effective date of the Agreement" (which term is defined in the General Conditions) and the required Contract Security is furnished or the sixty-first day after the Bid opening. Bid Security of other Bidders will be returned within seven days of the Bid opening. Contract Time The number of days within which, or the date by which, the Work is to be completed (the Contract Time) is set forth in the Bid Form and will be included in the Agreement. 8. Liquidated Damages Provisions for liquidated damages, if any, are set forth in the Agreement. i ' 9. Substitute Material and Equipment The Contract, if awarded, will be on the basis of material and equipment described in the Drawings or specified in the Specifications without consideration of possible substitute or "or -equal" items. Whenever it is indicated in the Drawings or specified in the Specifications that a substitute or "or -equal" item of material or equipment may be furnished or used by L Contractor if acceptable to Engineer, application for such acceptance will not be considered by Engineer until after the "effective date of the Agreement". The procedure for submittal of any such application by Contractor and consideration by Engineer is set forth in Paragraph 6.1 of the General Conditions. i L 10. Subcontractors. etc. I 10.1. The bidder must submit with the bid a list of the names and addresses of the Bidder's major subcontractors together with the services they will supply. These subcontractors will be subject to review as to their competency by the Owner prior to award of Contract and shall be one of the considerations in determining the lowest INSTRUCTION TO BIDDERS IB -3