Agenda - Council - 10/10/2017 - Laserfiche WebLink

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ARTICLE 8 — QUOTE SECURITY 8.01 A Quote must be accompanied by Quote security made payable to Owner in an amount of five percent of Quoter's maximum Quote price (determined by adding the base Quote and all alternates) and in the form of a certified check, bank money order, or a quote bond (on the form included in the Quoting Documents) issued by a surety meeting the requirements of Paragraphs 6.01 and 6.02 of the General Conditions. 8.02 The Quote security of the apparent Successful Quoter will be retained until Owner awards the contract to such Quoter, and such Quoter has executed the Contract Documents, furnished the required contract security, and met the other conditions of the Notice of Award, whereupon the Quote security will be released. If the Successful Quoter fails to execute and deliver the Contract Documents and furnish the required contract security within 15 days after the Notice of Award, Owner may consider Quoter to be in default, annul the Notice of Award, and the Quote security of that Quoter will be forfeited. Such forfeiture shall be Owner's exclusive remedy if Quoter defaults. 8.03 The Quote security of other Quoters that Owner believes to have a reasonable chance of receiving the award may be retained by Owner until the earlier of seven days after the Effective Date of the Contract or 61 days after the Quote opening, whereupon Quote security furnished by such Quoters will be released. 8.04 Quote security of other Quoters that Owner believes do not have a reasonable chance of receiving the award will be released within seven days after the Quote opening. ARTICLE 9 — CONTRACT TIMES 9.01 The number of days within which, or the dates by which, Milestones are to be achieved and/or the Work is to be substantially completed and ready for final payment are set forth in the Agreement. ARTICLE 10 — LIQUIDATED DAMAGES 10.01 Provisions for liquidated damages, if any, for failure to timely attain a Milestone, Substantial Completion, or completion of the Work in readiness for final payment, are set forth in the Agreement. ARTICLE 11— SUBSTITUTE AND "OR -EQUAL" ITEMS 11.01 The Contract for the Work, as awarded, will be on the basis of materials and equipment specified or described in the Quoting Documents without consideration during the Quoting and Contract award process of possible substitute or "or -equal" items. In cases in which the Contract allows the Contractor to request that Engineer authorize the use of a substitute or "or -equal" item of material or equipment, application for such acceptance may not be made to and will not be considered by Engineer until after the Effective Date of the Contract. 11.02 All prices that Quoter sets forth in its Quote shall be based on the presumption that the Contractor will furnish the materials and equipment specified or described in the Quoting Documents, as supplemented by Addenda. Any assumptions regarding the possibility of post -Quote approvals of "or -equal" or substitution requests are made at Quoter's sole risk. Instructions to Quoters 00 2100-5