BID GUARANTEE: Proposals shall be submitted with Proposal Security in the form of Certified Check or acceptable Bid Bond in an amount equal to at least five percent (5%) of the base bid; such security is to be forfeited as liquidated damages, not penalty, by any bidder who fails to carry out the terms of the proposal. The Bid Bond, if used, shall be payable to the Owner. Bonds on the project must be received on or before the period scheduled for the project and no bid may be withdrawn after the scheduled closing time for the project. Bids must be firm for a period of forty-five (45) days after the scheduled time of opening. PERFORMANCE-PAYMENT BOND: A one hundred percent (100%) Performance-Payment Bond issued by a surety company authorized to do business in the State of Mississippi will be required within ten (10) days after the successful bidder has been notified of the award of the contract to him. CERTIFICATE OF RESPONSIBILITY: All bids submitted by a prime or subcontractor for public works or public projects where said bid is in excess of fifty thousand dollars ($50,000.00) to perform contracts enumerated in Section 31-3-21, Mississippi Code of 1972, shall contain on the outside or exterior of the envelope or container of such bid the contractors current certificate number. No bid shall be opened or considered unless such contractors current certificate number appears on the outside or exterior of said envelope or container or unless there appears a statement on the outside or exterior of such envelope or container to the effect that the bid enclosed therewith does not exceed fifty thousand dollars ($50,000.00). NOTE: When bids are submitted electronically, the requirement for including on the exterior of the bid envelope the contractors current certificate of responsibility number or a statement that the bid enclosed does not exceed fifty thousand dollars ($50,000.00) shall be deemed fulfilled and the bid in compliance by including the same information as an attachment with the electronic bid submittal. The Owner reserves the right to reject any or all bids and to waive irregularities.