This certification also guarantees that if subcontractors are used they will also be properly licensed and classified. Bidders should have no contact with the owners or the owners' representatives. Any such contact will subject the bidder to immediate disqualification. Bids must be on the standard forms provided by the Architects and must be marked to identify the construction or classification of the work as shown above. Each bid shall be accompanied by a certified check drawn on some bank or trust company insured by the Federal Deposit Insurance Corporation or a bid bond in the amount of equal to of the total bid. The certified check or bid bond will be retained if the successful Bidder fails to execute the contract within ten (10) days after the award or fails to give satisfactory surety as required by the Contract Documents. A Performance Bond and Labor and Material Payment Bond in the amount of the Contract Sum will be required for this project. All Bonds must be executed in accordance with and conditioned as prescribed by the Laws of the State of North Carolina. No Bidder may withdraw his Bid within 60 (Sixty) days after the opening thereof. Bidders shall be required to begin work upon receipt of Notice to Proceed as issued by the Owner, and complete work within 365 Consecutive Calendar Days as stated on the Bid forms. Liquidated Damages in the amount of $500.00 per calendar day will be assessed for each day beyond the scheduled completion date the work remains incomplete. Important Note to All Bidders: ALL BIDDERS ARE HEREBY NOTIFIED THAT THEY SHALL COMPLY WITH THE STATE OF NORTH CAROLINA MINORITY BUSINESS ENTERPRISE PROGRAM. MBE REQUIREMENTS ARE INCLUDED IN THE SPECIFICATIONS. The Owners reserve the right to accept or reject any and all bids, to waive any informalities in bidding, and to award the Contract in any manner which the Owner believes is in the best interest of the citizens of Southern Shores.