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July 20, 2023
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5400 Broad St
Renovation
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Public - County
5400 Broad St, Lake Charles, LA
The successful bidder shall be required to furnish a Performance and Payment Bond in an amount equal to 100% of the Contract amount, 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. Best's Key Rating Guide to write individual bonds up to ten percent of policyholders' surplus as shown in the A.M. Best's 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 LSAR.S. 38:2219. The Owner reserves the right to reject any and all bids for just cause as permitted by LA R.S. 38:2214B. The Work shall be completed on or before 120 calendar days liquidated damages : $500.00
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