Valley Place Drainage Improvements

A Bid Bond in the amount of Five percent (5%) of the bid amount must accompany each bid, in accordance with the Instruction to Bidders. The City shall have the right to reject any or all bids, to reject a bid not accompanied by the Bid Security or by other data required by the Bidding Documents, to reject a bid which is in any way incomplete or irregular, and to rebid the Work at a later date if all bids are rejected. The successful bidder shall furnish a Performance Bond in an amount equal to one hundred percent (100%) of the Contract Sum as security for the faithful performance of the Contract, and also a Labor and Material Payment Bond in an amount not less than one hundred percent (100%) of the Contract Sum as security for the payment of all persons performing labor on the project under this Contract and furnishing materials in connection with this Contract. The Surety shall be a company licensed to do business in the State of Missouri and shall be acceptable to the City. The Performance Bond and the Labor and Material Payment Bond may be in one or in separate instruments; however, if combined into one, the amount shall be for two hundred percent (200%) of the Contract Sum

Division 33 -

Utilities, Instrumentation and Control for Utilities, Water Utilities, Water Utility Distribution Piping, Water Utility Distribution Equipment, Disinfecting of Water Utility Distribution, Water Utility Storage Tanks.