Kaelepulu Elementary School Various Classroom Repaint Interior

Pursuant to HRS 103D-305(b), Procurements greater than $50,000 for construction under subsection (a) shall require security by performance and payment bonds, pursuant to section 103D-324, delivered to the procurement officer, that are: (1) In a form prescribed by the rules of the policy board; (2) Executed by a surety company authorized to do business in this State; and (3) In an amount equal to one hundred percent of the price specified in the contract, or shall otherwise be secured by a performance bond in a manner satisfactory to the procurement officer. Liquidated Damages: In accordance with the Interim General Conditions, Article 7 Prosecution and Progress, Section 7.26 Failure to Complete the Work On Time, upon failure to complete the work or any portion of the work within the time or times fixed in the contract or extension thereof, the Contractor shall pay liquidated damages to the State, in the amount of $100, per calendar day of delay for contracts less than $50,000, or in the amount of $200, per calendar day of delay for contracts $50,000 or higher, unless otherwise noted.

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Finishes, Painting.