Fyffe High School Reroof A cashiers check or bid bond payable to DeKalb County Board of Education in an amount not less than five (5) percent of the amount of the bid, but In no event more than $10,000, must accompany the bidders proposal. Performance and Payment Bonds and evidence of insurance required in the bid documents will be required at the signing of the Contract. Bid bonds are to be issued by an acceptable bonding company licensed to do business in the State, with a Power of Attorney, to confess judgment thereon, with the understanding that it shall guarantee that the bidder shall not withdraw his bid for the guarantee period of sixty (60) days after the scheduled closing time for the receipt of bids; that if his bid is accepted, he will enter Into a formal contract with the Owner, and that in the event of a withdrawal of said bid within said period, or the failure to enter into said contract within the time specified, the bidder shall be liable to the Owner for the full amount of the bid guarantee as liquidated damages and not as a forfeit or as a penalty. All bidders bidding in amounts exceeding that established by the State Licensing Board for General Contractors must be licensed under the provisions of Title 34, Chapter 8, Code of Alabama. 1975, and must show evidence of license before bidding or bid will not be received or considered by the Architect; the bidder shall show such evidence by clearly displaying his or her current license number on the outside of the sealed envelope in which the proposal is delivered. Non resident bidders must accompany any written bid documents with a written opinion of an attomey at law licensed to practice law in such non resident bidder's state of dOntiCile, as to the preferences, if any or none, granted by the law of that state to its own business entities whose principal places of business are In that state in the letting of any or all public contracts. The Owner reserves the right to reject any or all proposals and to waive technical errors it in the Owners judgment, the best interests of the Owner will thereby be promoted.