Department of Public Works Electrical Upgrades Each Bid shall be accompanied by Bid Security in the form of a Bid Bond or certified check payable to the Owner in an amount not less than ten percent (10%) of the Bid price. Such Bid Bond or certified check shall serve as security to insure the execution of the Agreement and the furnishing of other required documents by the successful Bidder, including the required Bonds and certificate of insurance. A Bid Bond shall be executed by a surety company licensed to transact such business in the State of Indiana and qualified as a surety under the underwriting limitations on the current list of "Surety Companies Acceptable on Federal Bonds," as published in the U.S. Treasury Department Circular No. 570; the Bidder shall also furnish as part of the Bid a signed power of attorney establishing the authority of the person executing such Bid Bond on behalf of the surety. A Performance Bond with good and sufficient surety as required by the Owner on the Form provided in the Project Manual, shall be required of the successful Bidder in an amount equal to at least one hundred percent (100%) of the Contract Sum, conditioned upon the faithful performance of the Agreement. The surety of the Performance Bond may not be released until one (1) year after the Owner's final settlement with the Contractor. The Bid Bond of certified check of other Bidders, whom the Owner believes to have a reasonable chance of receiving the award, may be retained by Owner for a period of sixty (60) days or such longer time as provided by statute. The Owner shall have the right to reject all Bids. A Bid not accompanied by a required Bid Security or by other data required by the Bidding Documents, or a Bid which is in any way incomplete or irregular is subject to rejection.b The email to contact the Owner is steinere@fishers.in.us. All questions concerning bidding shall be directed to Eric Steiner, Assistant Director of Public Works via email at steinere@fishers.in.us and copied to Eric Pethtel, Director of Public Works at pethtele@fishers.in.us.