Each Bid must be accompanied by a Certified or Cashier's Check, from a responsible bank in the State of Texas, or a Bid Bond, issued by a surety legally authorized to do business in the State of Texas, equal to two percent (2%) of the total bid amount. Make the Cashier's Check, Certified Check or Bid Bond payable to the Owner. Bids submitted electronically via the the Contractor is one of the three low bidders, the original check or bond must be delivered to the offices of the Engineer for the District by 5:00 p.m. on the day of the bid opening. If the original check or bond is not received at the office of the Engineer for the District, the Contractor's bid shall be deemed to have been withdrawn. If the Contractor is not one of the three low bidders, he may pick up his Cashier's Check Bid Security the following business day after the bid opening. If the Contractor is the third low bidder, he may exchange his Cashier's Check Bid Security for a two percent (2%) bid bond after the seventh (7th) calendar day after the bid opening. If the Contractor is the second low bidder, he may exchange his Cashier's Check Bid Security for a two percent (2%) bid bond after the fourteenth (14th) calendar day after the bid opening. If the Contractor is the low bidder, the Cashier's Check Bid Security will be returned after the Contract Documents are executed by all parties. The successful bidder must furnish within seven (7) calendar days from the date the Contractor is notified that the Contract Documents are available for pick up, a Performance Bond and a Payment Bond on the forms furnished with the Contract Documents, each in the amount of one hundred percent (100%) of the total Contract price. The Surety Company must be authorized to do business in Texas, which authorization must be recorded in the files of the State Board of Insurance. The Surety Company must be authorized to issue Payment and Performance Bonds in the amount required for the particular contract, which authorization must be recorded in the files of the State Board of Insurance. The Surety Company must have a rating of at least "A" in the current Best's Key Rating Guide, or if the Surety Company does not have such a rating due to the length of time it has existed, the Surety Company must be eligible to participate in the Surety Bond Guarantee Program of the Small Business Administration and must be an approved surety listed in the current U.S. Department of Treasury Circular 570, and must meet all of the related rules and regulations of the Treasury Department. The person executing the Payment and Performance Bonds must be a licensed Texas local recording agent and such licensing must be recorded in the files of the State Board of Insurance. The person executing the Payment and Performance Bonds must be authorized by the Surety Company to execute Performance and Payment Bonds on behalf of the Company in the amount required for the contract and such authorization must be recorded in the files of the State Board of Insurance. The Contract shall not be in effect until such bonds have been provided by the Contractor and accepted by the Owner. The Owner reserves the right to reject any or all bids or to accept any bid deemed advantageous to it and waive informalities in bidding. All bids received after the above-designated closing time will be returned to the Contractor unopened. Question Deadline 09/25/2024 at 11:30 AM CT