03-12-1984 Council Packet - Laserfiche WebLink

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2.7 BID SECURITY If so stipulated in the Advertisement or Invitation to Bid, each Proposal shall be accowt,:,,iied by a Bid Security in the required form and amount pledging that the Bidder will enter into a Contract with the Owner on the terms stated in his Proposal and will, if required, furnish bonds as described hereunder in Section 3.2 covering the faithful performance of the Contract and the payment of all obligations arising thereunder. Should the Bidder refuse to enter into such Contract or fail to furnish such bonds, if required, the amount of the Bid Security shall be forfeited to the Owner as liquidated damages, not as a penalty. The Owner will have the right to retain the Bid Security of Bidders until either (a) the Contract has been executed and bonds, if required, have been furnished by the Contractor to whom an award has been made or (b) the specified time has elapsed so that unaccepted Proposals may be withdrawn, or (c) all Proposals have been rejected. 2.8 DELIVERY OF PROPOSAL Each Proposal shall be placed in an opaque envelope and securely sealed. The envelope shall be so marked as to indicate the name and address of the Bidder, the type of work and the Project Designation. If mailed, the sealed envelope shall be enclosed in a separate mailing envelope with the notation "PROPOSAL ENCLOSED" on the face thereof. All Proposals shall he in the office of the designated recipient before the time set for bid opening. 2.9 OPENING OF PROPOSALS Proposals will be opened publicly and read aloud at the time, date and place designated in the Advertisement. 2.10 EVALUATION OF PROPOSALS The Owner reserves the right to reject any Proposal if it shows any omissions, alterations, irregularities, is submitted subsequent to the opening of the fi-pt Proposal, or is unaccompanied by any required Bid Security. The Bidder f �!r acknowledges the right of the Owner to reject all Proposals and ree rtise with the sane or different Bid Documents. In any event, the Owner reserves the right to waive any informalities, irregularities or minor deviations in the Proposal. Comparison of Proposals will be made on the basis of the stated unit prices and unit prices will control in the event rf a discrepancy between the unit price and the extension or summation thereof. 2.11 CERTIFICATE OR INDEPENDENT PRICE DETERMINATION By submission of a Proposal, each Bidder certifies that: (a) The prices in. the Proposal have been arrived at independently, without consultation, communication or agreement as to any matters relating to such prices with any other bidder or with any competitor for the purpose of restricting competition; W - 5 - 3526a r 4/81