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7 . 02 Addenda may be issued to clarify , correct, or change the Bidding Documents as <br /> deemed advisable by OWNER or ENGINEER. <br /> ARTICLE 8 - BID SECURITY <br /> 8. 01 Each Bid must be accompanied by Bid Security made payable to Owner in an amount <br /> of five percent of the Bidder's maximum base bid price and in the form of a certified check ; <br /> cashiers check ; or an AIA Document A310 Bid Bond issued by a surety meeting the requirements <br /> of Paragraph 5 . 01 of the General Conditions . The Bid Bond shall be executed by such sureties as <br /> are named in the current list of " Companies Holding Certificates of Authority as Acceptable <br /> Sureties on Federal Bonds and as Acceptable Reinsuring Companies" as published in Circular <br /> 570 (amended ) by the Financial Management Service , Surety Bond Branch , U . S . Department of <br /> the Treasury . The Surety must be authorized to issue surety bonds in Florida . The Bidder shall <br /> require the attorney-in-fact who executes any Bond , to affix to each a current certified copy of their <br /> Power of Attorney , reflecting such person's authority as Power of Attorney in the State of Florida . <br /> Further, at the time of execution of the Contract , the Successful Bidder shall for all Bonds , provide <br /> a copy of the Surety's current valid Certificate of Authority issued by the United States Department <br /> of the Treasury under 31 United States Code sections 9304-9308 . The Surety shall also meet the <br /> requirements of paragraphs 5 . 01 and 5 . 02 of the General Conditions . <br /> 8 . 02 The Bid security of the Successful Bidder will be retained until such Bidder has <br /> executed the Contract Documents , furnished the required contract security and met the other <br /> conditions of the Notice of Award , whereupon the Bid security will be returned . If the Successful <br /> Bidder fails to execute and deliver the Contract Documents and furnish the required contract <br /> security within 15 days after the Notice of Award , OWNER may annul the Notice of Award and the <br /> Bid Security of that Bidder will be retained by owner. The Bid security of other Bidders whom <br /> OWNER believes to have a reasonable chance of receiving the award may be retained by <br /> OWNER until the earlier of seven days after the Effective Date of the Agreement or 61 days after <br /> the Bid opening , whereupon Bid security furnished by such Bidders will be returned . <br /> 8 . 03 Bid security of other Bidders whom OWNER believes do not have a reasonable <br /> chance of receiving the award will be returned within seven days after the Bid opening . <br /> ARTICLE 9 - CONTRACT TIMES <br /> 9 . 01 The number of calendar days within which , or the dates by which , the Work is to be (a ) <br /> Substantially Completed and (b) also completed and ready for final payment are set forth in the <br /> Agreement . <br /> ARTICLE 10 - LIQUIDATED DAMAGES <br /> 10 . 01 Provisions for liquidated damages , if any , are set forth in the Agreement . <br /> ARTICLE 11 - SUBSTITUTE AND " OR- EQUAL" ITEMS <br /> 11 . 01 The Contract, if awarded , will be on the basis of materials and equipment specified or <br /> described in the Bidding Documents without consideration of possible substitute or "or-equal" <br /> 00200 - Instructions to Bidders REV 04-07 <br /> 00200 - 5 <br /> F :\Engineering\Capital Projects\0803 17th Lane SW Roadway Improvements from 27th Ave to approx. 900 LF east of 27th Ave\0803 Contract Documents\00200 <br />- Instructions <br /> to Bidders REV 04-07.doc Rev. 05/01 <br />