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r ARTICLE 8 - BID SECURITY ..r 8 . 01 A Bid must be accompanied by Bid security made payable to OWNER in the amount specified in the Bid Form and in the form of a certified or bank check or a Bid Bond [on the form "` attached] issued by a surety meeting the requirements of paragraphs 5 . 01 and 5 . 02 of the General Conditions . MI 8 . 02 The Bid security of the Successful Bidder will be retained until such Bidder has executed the Contract Documents , furnished the required contract security and met the other conditions of the Notice of Award , whereupon the Bid security will be returned . If the Successful r Bidder fails to execute and deliver the Contract Documents and furnish the required contract security within 15 days after 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 other Bidders whom OWNER . believes to have a reasonable chance of receiving the award may be retained by OWNER until the earlier of seven days after the Effective Date of the Agreement or 61 days after the Bid opening , whereupon Bid security furnished by such Bidders will be returned . 8 . 03 Bid security of other Bidders whom OWNER believes do not have a reasonable chance of receiving the award will be returned within seven days after the Bid opening . r ARTICLE 9 - CONTRACT TIMES 9 . 01 The number of calendar days within which , or the dates by which , the Work is to be (a ) Substantially Completed and ( b ) also completed and ready for final payment are set forth in the .. Agreement w ARTICLE 10 - LIQUIDATED DAMAGES 10 . 01 Provisions for liquidated damages , if any, are set forth in the Agreement . r ARTICLE 11 - SUBSTITUTE AND " OR- EQUAL" ITEMS 11 . 01 The Contract, if awarded , will be on the basis of materials and equipment specified or r described in the Bidding Documents without consideration of possible substitute or "or-equal" items . Whenever it is specified or described in the Bidding Documents that a substitute or "or- equal " item of material or equipment may be furnished or used by 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 submission of any such application by CONTRACTOR and consideration by ENGINEER is set forth in the General Conditions and may • be supplemented in the General Requirements . r ARTICLE 12 - SUBCONTRACTORS , SUPPLIERS , AND OTHERS 12 . 01 If the Supplementary Conditions require the identity of certain Subcontractors , Suppliers , individuals , or entities to be submitted to OWNER in advance of a specified date prior to the 0016-00200 - Instructions to Bidders rr 00200 - 5 F:\Engineering\Capital Projects\0016 & 0236- 41st Street Improvements\0016 & 0236-41st Sl Contract Docs\0016-00200 - Instructions to Bidders.doc Rev. 05/01