All Bids Must Be Accompanied by Bid Security Equal to Five Percent (5%) of the Sum of the Base Bid and All Alternates, and Must Be in the Form of a Certified Check or Cashiers Check Drawn on a Bank Insured by the Fdic, or The Special District Bid Bond Form Contained in Bidding Documents, Which Shall Be Written by a Surety or Insurance Company Currently on the U.s. Department of the Treasury Financial Management Service List of Approved Bonding Companies Which is Published Annually in the Federal Register, or by a Louisiana Domiciled Insurance Company With At Least an a- Rating in the Latest Printing of the a.m. Bests Key Rating Guide to Write Individual Bonds Up to Ten Percent (10%) of Policy-holders Surplus as Shown in the a.m. Bests Key Rating Guide or by an Insurance Company in Good Standing Licensed to Write Bid Bonds Which is Either Domiciled in Louisiana or Owned by Louisiana Residents, All in Accordance With Lsa-r.s. 38:2218. No Bid Bond in-dicating an Obligation of Less Than Five Percent (5%) by Any Method is Acceptable. The Successful Bidder Shall Be Required to Furnish a Performance and Payment Bond in an Amount Equal to One Hundred Percent (100%) of the Contract Amount, Which Shall Be Written by a Surety or Insurance Company Currently on the U.s. Department of the Treasury Financial Management Service List of Approved Bonding Companies Which is Published Annually in the Federal Register, or by a Louisiana Domiciled Insurance Company With At Least an a- Rating in the Latest Printing of the a.m. Bests Key Rating Guide to Write Individual Bonds Up to Ten Percent (10%) of Policyholders Surplus as Shown in the a.m. Bests Key Rating Guide or by an Insurance Company in Good Standing Licensed to Write Bid Bonds Which is Either Domiciled in Louisiana or Owned by Louisiana Residents, All in Accordance With Lsa-r.s. 38:2219 Bids Shall Be Accepted Only From Contractors Who Are Licensed Under Lsa-r.s. 37:2150-2163 for the Classification of Building Construction. No Bid May Be Withdrawn for a Period of Forty-five (45) Days After Receipt Of Bids, Except Under the Provisions of Lsa-r.s. 38:2214 The Owner Reserves the Right to Reject Any and All Bids for Just Cause as Permitted by La R.s. 38:2214b. The Ability of an Entity to Reject Any Bid is Applicable Only When Administered in Accordance With the Public Bid Law. In Accordance With Lsa-r.s. 38:2212b.(1), the Provisions and Requirements of This Section, and Those Stated in The Bidding Documents Shall Not Be Waived by Any Entity. The Owner Shall Incur No Obligation to the Contractor/bidder Until the Contract Between the Owner and theContractor/bidder is Fully Executed Official Action on This Bid Will Be Taken Within Forty-five (45) Days by the Sulphur Parks and Recreation Board, Except as May Be Extended by Mutual Written Consent With the Lowest Responsible Bidder. prime Bidders is Defined as Licensed Building Contractors Bidding This Job as Such. Doc info : The Deposit of All Other Set of Documents Will Be Refunded Fifty Percent (50%) Upon Return of Documents as Stated Above. Electronic Form May Be Obtained From the Project Architect Upon a Nonrefundable $25 Fee for This Project