PERTT Electrical Improvements, Phase 2

ANY PERSON REQUIRING SPECIAL ACCOMMODATIONS SHALL NOTIFY LOUISIANA STATE UNIVERSITY, OFFICE OF PURCHASING OF THE TYPE(S) OF ACCOMMODATION REQUIRED NOT LESS THAN SEVEN (7) DAYS BEFORE THE BID OPENING. Surety must be listed on the current U.S. Department of the Treasury Financial Management Service list of approved bonding companies as approved for an amount equal to or greater than the amount for which it obligates itself in the Bond, or must be a Louisiana domiciled insurance company with at least an A- rating in the latest printing of the A.M. Bests Key Rating Guide. If surety qualifies by virtue of its Bests listing, the amount of the Bond may not exceed ten percent of policyholders surplus as shown in the latest A.M. Bests Key Rating Guide. The Bid Bond shall be in favor of the Louisiana State University and Agricultural and Mechanical College, and shall be accompanied by appropriate power of attorney. Surety must be listed currently on the U.S. Department of Treasury Financial management Service List (Treasury List) as approved for an amount equal to or greater than the contract amount, or must be an insurance company domiciled in Louisiana or owned by Louisiana residents. If surety is qualified other than by listing on the Treasury list, the contract amount may not exceed fifteen percent of policyholders surplus as shown by suretys most recent financial statements filed with the Louisiana Department of Insurance and may not exceed the amount of $500,000. However, a Louisiana domiciled insurance company with at least an A- rating in the latest printing of the A.M. Bests Key Rating Guide shall not be subject to the $500,000 limitation, provided that the contract amount does not exceed ten percent of policyholders surplus as shown in the latest A.M. Rev. 02/2017 ADV 2-2 Bests Key Rating Guide nor fifteen percent of policyholders surplus as shown by suretys most recent financial statements filed with the Louisiana Department of Insurance. The Bond shall be signed by the suretys agent or attorney-in-fact. Bids shall be accepted from Contractors who are licensed under LA. R.S. 37:2150-2163 for the classification of ELECTRICAL WORK (STATEWIDE). Bidder is required to comply with provisions and requirements of LA R.S. 38:2212 (A)(1)(c). No bid may be withdrawn for a period of thirty (30) days after receipt of bids, except under the provisions of LA. R.S. 38:2214. The Owner reserves the right to reject any and all bids for just cause. In accordance with La. R.S. 38:2212 (A)(1)(b), the provisions and requirements of this Section, those stated in the advertisement for bids, and those required on the bid form shall not be considered as informalities and shall not be waived by any public entity. When this project is financed either partially or entirely with State Bonds or federal funds, the award of this Contract is contingent upon the granting of lines of credit, the sale of bonds by the Bond Commission or the commitment of federal funds. The University shall incur no obligation to the Contractor until the Contract Between Owner and Contractor is fully executed.

Division 26 -

Electrical.