Bids will be received by the Owner at its offices, located at: Watchung Borough School District 1 Dr. Parenty Way Watchung, NJ 07069 until 2:00 PM prevailing time on Tuesday, November 7, 2023, and will be opened and read aloud immediately thereafter. Bids must include all applicable allowances, unit prices, and numbered alternate bids. Bidders shall use complete sets of Bidding Documents in preparing Bids. Neither the Owner nor the Architect will assume any responsibility for errors or misinterpretations resulting from the use of incomplete sets of Bidding Documents. Each bid must be accompanied by a bid security deposit of an amount equal to at least contract0%) percent of the amount of the base bid, but not in excess of $20,000, the deposit may be either a certified check or cashier's check drawn on an incorporated bank or trust company payable to the order of the Owner, or a bid bond in favor of the Owner as a guarantee that, in case the contract is awarded to the bidder, he will execute such contract. Submission of the AIA Document A310-1970 or any other form limiting or potentially limiting the penal sum of the bond to any amount less than 10% of the bid price not to exceed $20,000 (such as forms of bond that limit the penal sum to the difference between the bid price and the district's cost for the work), will be cause for rejection of the bid. The bid security deposits of all excepting the three lowest bidders will, if requested, be returned after ten (10) days from the opening of bids, Sundays and holidays excepted, and the remaining deposits will be returned when the contract of the successful bidder is approved. The successful bidder will be required to furnish a New Jersey Statutory Performance Bond and a Labor and Material Payment Bond in the amount of the contract sum. The Owner reserves the right to waive any informalities in, or to reject, any or all bids.