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SPECIAL CONDITIONS <br />4.1.1 Price Change: Preference shall be given to the bidder submitting the lowest <br />price meeting specifications as their bid. Should it be found to be in the best <br />interest of the County to accept a bid with an escalation clause, the following <br />shall apply: <br />4.1 a The bid price shall be initially accepted for a specific contract term. Upon <br />written receipt from bidder to the County of documented materials and labor <br />price increases impacting bidder's cost for such items, the County may <br />approve an escalation in the bid price for a revised specific contract term. If <br />the bidder is submitting an escalation clause in their bid, it shall be so <br />indicated with specifics of the clause, on the detailed price proposal page in <br />the detailed specifications in the Invitation to Bid. <br />4.1b This written request to support any proposed increases must be submitted to <br />the Finance Office representative not less than sixty (60) days prior to the <br />effective date of any such requested price increase. <br />4.1c Any adjustment allowed shall consist of bona fide material /service cost <br />increases, which may be passed on to the consumer. <br />4.1d No adjustment shall be made to compensate a bidder for inefficiency in <br />operation or for additional profit. <br />4.2 Bid Bonds: If the total price of apparatus, supplies, material or equipment is <br />$100,000 or more, the bidder may be required to post a bid bond, cash, cashier's <br />check, or certified check drawn on a bank or trust company insured by the Federal <br />Deposit Insurance Corporation and made payable to the County in the amount of <br />not less than 5% of the bid price. <br />NOTE: A Bid bond IS NOT required for this bid. <br />4.3 Performance /Payment Bonds: Each bidder may be required to post a payment/ <br />performance bond, governmental securities, certified check or money order payable <br />to the County in the amount of 100% of the bid price if awarded the contract. Such <br />bond(s) are due prior to contract execution as a guarantee of the faithful <br />performance of the terms of the contact and payment of all sums due for labor and <br />materials per the contract. Such bonds will also guarantee quality performance of <br />services and timely payment of invoices to subcontractors. <br />Whenever a bond is provided, a surety authorized to do business in the State of <br />North Carolina and approved by the County shall execute it. <br />Note: A performance /payment bond IS NOT required for this bid. <br />Zo <br />Attachment number 1 <br />F -8 Page 127 <br />