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c. All bids must be opened in public and the board or governing body shall <br />award the contract. <br />d. Award shall be made to the "lowest responsible bidder or bidders, whose <br />bid meets the requirements and criteria set forth in the Invitation for Bids, <br />taking into consideration quality, performance and the time specified in <br />the proposal for the performance of the contract." In the event the lowest <br />responsible bids are in excess of the funds available for the project or <br />purchase, the governing body is authorized to enter into negotiations with <br />the lowest responsible bidder or bidders above mentioned, making <br />reasonable changes in the specifications as may be necessary to bring the <br />contract price within the funds available, and may award a contract to <br />such bidder. <br />e. All contracts must be executed in writing. <br />f. The successful bidder may be required to post a performance bond in the <br />amount of 100% of the total bid price to the County. Performance bonds <br />are due prior to contract execution as a guarantee of the faithful <br />performance of the terms and conditions of the contract. Performance <br />bonds are required for construction or repair contract for projects over <br />$500,000 per NCGS §143- 129(c) and for each contract over $50,000 per <br />NCGS §44A -26; and, must be in the form of a bond, certified check, or cash. <br />g. There is no minimum number of bids required for apparatus, goods, <br />supplies and equipment. If only one response is received, it can be opened <br />and awarded based on a determination that the prices are fair and <br />reasonable. <br />2. Purchasing Procedures <br />The formal bid process may take up to ten (10) weeks to complete once a <br />request has been received, therefore, planning and scheduling is of the utmost <br />importance. <br />a. Written specifications must be prepared. Good, clear specifications are an <br />essential aspect of competitive bidding. Quality and service can be as <br />important as price; therefore, specifications are needed that will fulfill, but <br />not exceed the requirements for which the items and/or services are <br />Page 18 of 48 <br />Attachment number 1 <br />F -6 Page 90 <br />