**As of September 25, 2024 this project has not yet been awarded. A timeline for award has not yet been established.** FPM - Reuther Library HVAC REBID LOCATION: Wayne State University 5401 Cass Avenue Detroit, Michigan 48202 A satisfactory Bid Bond executed by the Bidder and Surety Company, in an amount equal to not less than five percent (5%) of the maximum proposal amount shall be submitted with each Proposal, which amount may be forfeited to the Board of Governors, Wayne State University, if the successful Bidder refuses to enter into a Contract within ninety (90) days from receipt of Proposals. A. The successful Bidder will be required to furnish a Performance Bond and Labor and Material Payment bond in an amount equal to 100% of the contract award amount, and include such cost in the Proposal, complying with University policy and the laws of the State of Michigan. B. Performance Bond and Labor and Material Payment Bond shall be from a surety company acceptable to the Owner and made payable as follows: (1) A bond for 100% of the contract award amount to the Board of Governors of Wayne State University, and guaranteeing the payment of all subcontractors and all indebtedness incurred for labor, materials, or any cause whatsoever on account of the Contractor in accordance with University policy and the laws of the State of Michigan relating to such bonds. (2) A bond for 100% of the contract award amount to the Board of Governors of Wayne State University to guarantee and insure the completion of work according to the Contract. C. The only acceptable Performance Bond shall be the AIA A312 – 2010. D. Bond must be issued by a Surety Company with an A or A- rating as denoted in the AM Best Key Rating Guide. For bids below $50,000.00, A. Bid bond will not be required. B. Performance and Material & Labor Payment bonds will not be required. A satisfactory Bid Bond executed by the Bidder and Surety Company, in an amount equal to not less than five percent (5%) of the maximum proposal amount shall be submitted with each Proposal, which amount may be forfeited to the Board of Governors, Wayne State University, if the successful Bidder refuses to enter into a Contract within ninety (90) days from receipt of Proposals. Substantial Completion will be completed no later than December 19, 2025