The City of South Miami, Florida (the "City") is soliciting bids for the Drainage Improvements at Sw 63 Avenue Between 69th and 70th Street to provide the work for the Project A Bid Bond and Performance and Payment Bonds are required for this project. Each bid must be accompanied by a Bid Bond or Cashier's Check, in the amount of five percent (5%) of the bid, in the form provided in Form 9. Bid Guaranty shall be made by certified or cashier's check or by a bid bond made payable to the City and provided by a surety company authorized to do business as a surety in the state. All Bid Bonds shall be valid for a period of at least 90 days from the bid submission date. The Bid Bonds for all unsuccessful bids shall be returned after the 90-day period. The purpose of the bid bond is to ensure that bids are honored and that they remain valid for the required period. Accordingly, bid bonds are subject to forfeiture any time Bidders refuse to honor their bids for at least 90 days after bid opening. The Bid Guaranty of the successful bidder will be retained until such bidder has executed a contract and furnished any payment and performance bonds, along with all insurance policies, licenses, or other documentation that may be required by the City. If the successful bidder fails to furnish the required payment and performance bonds, fails to execute and deliver the contract, or fails to deliver the required insurance policies, licenses, or other documentation to the office of the purchasing agent within the time specified in the instructions to bidders, the City may annul the notice of award and the entire sum of the Bid Performance Bond. If this provision is selected, the selected Contractor must deliver to the City a performance bond in an amount equal to 100 percent of the price specified in the contract. The performance bond shall provide that the bonding company will complete the project if the selected Contractor defaults on the contract with the City by failing to perform the contract in the time and manner provided for in the contract. 2.8.2. Payment Bond. If this provision is selected, the selected Contractor must deliver to the City a payment bond in an amount equal to 100 percent of the price specified in the contract. The payment bond shall provide that the bonding company or surety will promptly pay all persons who supply labor, materials, or supplies used directly or indirectly in the performance of the work provided for in the contract between the selected Contractor and the City if the selected Contractor fails to make any required payments only A pre-response conference will NOT be held for this project. Deadline to Submit Questions / Requests for Clarification June 9, 2023 10:00 AM City Manager issues recommendation to City Commission July 18, 2023 7:00 PM Award Bid(s) and Agreement(s) at City Commission Meeting July 18, 2023 7:00 PM