CONTRACTORS' LICENSE CLASSIFICATION. Bidders must possess the following classification(s) of California Contractors License at the time that the Bid Proposal is submitted and at the time the Contract for the Work is awarded: A General Engineering. The Bid Proposal of a Bidder who does not possess a valid and in good standing Contractor's License in the classification(s) set forth above will be rejected for non-responsiveness. Any Bidder not duly and properly licensed is subject to all penalties imposed by law. No payment shall be made for the Work unless and until the Registrar of Contractors verifies to the City that the Bidder awarded the Contract is properly and duly licensed for the Work. The City reserves the right to reject any Bid or all Bids The work to be performed or executed under these specifications consists of furnishing all materials, equipment, tools, labor, and incidentals as required by the contract documents to construct the above stated project. The general items of work to be done hereunder consist of traffic control, traffic signal equipment upgrades at the following intersections, and advance coordination/notification of residences and businesses that are impacted by the progression of work. Hidden Hills/Golden Lantern o Alicia Parkway/Highlands Ave o Crown Valley Parkway/Greenfield Drive o Crown Valley Parkway/La Paz Road o Crown Valley Parkway/Moulton Parkway BONDS. Each Bid must be accompanied by a cash deposit, cashier's check, certified check or Bidder's Bond issued by a Surety insurer, made payable to the City of Laguna Niguel and in an amount not less than ten percent (10%) of the total Bid submitted. Personal or company checks are not acceptable. Upon Contract award, the Contractor shall provide faithful performance and payment Bonds, each in a sum equal to the Contract Price. All Bonds must be issued by a California admitted Surety insurer using the forms set forth in the Contract Documents. Failure to enter into the Contract with the City, including the submission of all required Bonds and insurance coverages, within 15 Days after the date of the mailing of written notice of contract award to the Bidder, shall subject the Bid security to forfeiture to the extent provided by law.