Download 2009-3 Ross Electric - 09-002 Generator

Sealed Bid 09-002 Generator
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29.
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EXECUTION OF A PERFORMANCE BOND AND LABOR AND MATERIALS BOND
When noted in the specifications, the County reserves the right to require the successful
bidder to supply a Performance Bond and a Labor and Materials Bond within ten (10)
calendar days of acceptance of the Vendor's bid by the County. The bonds, unless
otherwise specified by the Director of Purchasing, shall be 100% of the total contract
price.
30.
FAILURE TO FURNISH BOND
In the event that the Vendor fails to furnish the abovementioned bonds within ten (10)
calendar days after acceptance of the bid by the County, then the bid deposit of the
bidder shall be retained by the County as liquidated damages, it being now agreed that
said sum is a fair estimate of the amount of damages that said County will sustain due to
the Bidder's failure to furnish said bonds.