All bids shall remain firm for sixty (60) days following opening of bids. Each contractor and each sub-contractor shall be licensed in the community where the work will occur. The Contract will be written to retain 10% for each request for payment. When the Contract is 50% completed, no further retainage will be withheld, but no retainage previously withheld will be returned to the Contractor. All retainage withheld during the first 50% of the work will be held until completion. However, the Architect must approve the Application for Payment. The Contractor must be making satisfactory progress and there must be no specific cause for greater withholding. The Owner-Contractor Agreement will be the Standard Form of Agreement Between Owner and Contractor, AIA Document A101, 2017 edition. The Owner requires that all Bids shall comply with the bidding requirements specified in the Instructions To Bidders. The Owner may, at its discretion waive informalities in Bids, but is not obligated to do so, nor does it represent that it will do so. The Owner also reserves the right to reject any and all Bids. Under no circumstances will the Owner waive any informality which, by such waiver, would give one Bidder a substantial advantage or benefit not enjoyed by all other Bidders. Bonding companies for Performance and Payment Bonds must be listed in the U.S. Treasury Circular No. 570. A Bid Bond made payable to the Galeton Area School District in the amount of 10% of each Base Bid shall accompany each bid, executed by the Contractor and a surety company licensed to do business in the Commonwealth of Pennsylvania, as a guarantee that, if the bid is accepted, the bidder shall execute the proposed contract and shall furnish and pay for a Performance and Payment Bond in the amount of 100% of the Contract Price as security for the performance of the Contract and payment of all costs thereof, upon execution of Contract. If, after fifteen (15) days the bidder shall fail to execute said Contract and Bond, the Bid Bond shall be forfeited to the Owner as liquidated damages. The successful Bidder will be required to file a Stipulation Against Mechanic's Liens prior to commencing work. Bidders will be permitted to access the site by appointment only. Contact the Owner's Representative listed in the Project Manual to make an appointment.