Water System Improvements Contract No. 2 - Ground Storage Tank The Contractor Shall Obtain, Maintain During the Life of the Project, and Provide to the Owner Copies of the Following Bonds and Policies Which Shall Be Obtained From Surety Companies Which Appear on the U.s. Treasury Circular 570, Licensed to Do Business in the State of Louisiana, in the Amounts and for the Purpose Stated and Subject to the Owner's Approval. This Project Shall Be Through the American Rescue Plan Act-water Sector Program. Refer to the Federal Provisions for Construction Contracts for Special Requirements. The Prime Contractor and All Subcontractors Must Have an Active Unique Entity Id (Sam) as Verified on online Prior to Beginning Construction and Throughout the Term of the Contract. Funding for This Project Shall Be Through the American Rescue Plan Act-water Sector Program. Refer to the Federal Provisions for Construction Contracts for Special Requirements. The Contractor Shall Obtain, Maintain During the Life of the Project, and Provide to the Owner Copies of the Following Bonds and Policies Which Shall Be Obtained From Surety Companies Which Appear on the U.s. Treasury Circular 570, Licensed to Do Business in the State of Louisiana, in the Amounts and for the Purpose Stated and Subject to the Owner's Approval. Bid Bond : a Bid Guarantee Equivalent to 5% of the Bid Price Consisting of a Firm Commitment, Such as a Bid Bond, Certified Check, Cashier's Check, Money Order or Other Negotiable Instrument, Shall Accompany Each Bid as Assurance That the Bidder Will, Upon Acceptance of His Bid, Execute Such Contractual Documents as May Be Required and Within the Time Specified. a Performance Bond of Not Less Than 100% of the Contract Price Shall Be Executed to Assure the Contractor's Faithful Performance of the Contract. 3. Payment Bond : a Payment Bond of Not Less Than 100% of the Contract Price Shall Be Executed to Assure Payment as Required by Law of All Persons Supplying Labor and Material in the Performance of the Work Provided By the Contract. The Owner Reserves the Right to Reject Any and All Bids for Just Cause; Such Actions Will Be in Accordance With Title 38 of the Louisiana Revised Statutes. Only the Bids of Contractors Licensed Under Louisiana Contractor's Licensing Law R.s. 37:2150-2173 Will Be Considered for Bids Exceeding $50,000.00. Should the Bid Exceed $50,000.00, Contractors Desiring to Bid Shall Submit Evidence That They Hold License of Proper Classification of Municipal and Public Works Construction in Full Force and Effect at the Time Drawings, Specifications and Forms Are Requested From the Office of the Engineers. Document note: They Will Not Be Mailed Without Such a Request. Plans and Specifications Shall Be Available Until Twenty-four (24) Hours Before the Bid Opening Date.