City Office Building - Roof Replacement

Each proposal shall be accompanied by a cash deposit or a certified check drawn on some bank or trust company, insured by the Federal Deposit Insurance Corporation, of an amount equal to not less than five percent (5%) of the proposal, or in lieu thereof a bidder may offer a bid bond of five percent (5%) of the bid executed by a surety company licensed under the laws of North Carolina to execute the contract in accordance with the bid bond. Said deposit shall be retained by the owner as liquidated damages in event of failure of the successful bidder to execute the contract within ten days after the award or to give satisfactory surety as required by law. A performance bond and a payment bond will be required for one hundred percent (100%) of the contract price. No bid may be withdrawn after the scheduled closing time for the receipt of bids for a period of 45 days. The owner reserves the right to reject any or all bids and to waive informalities

Division 07 -

Thermal and Moisture Protection, Dampproofing and Waterproofing, Thermal Protection.