14-011 Exhibit C rev 12-05-25.pdf

This document is Exhibit C of a bonding requirements specification for the City of Midland, Texas, related to the Midland International Air and Space Port Beautification Project. The exhibit establishes mandatory bonding and bid guarantee requirements for contractors submitting proposals for the furnishing of materials and labor associated with the airport beautification project and related miscellaneous work. Bidders must submit their proposals on the provided proposal forms included in the project specifications.

For bids exceeding $50,000, the successful bidder is required to furnish a Performance and Payment Bond in an amount equal to one hundred percent of the total contract price, executed by a Corporate Surety authorized to do business in the State of Texas and acceptable to the City of Midland. All bids must be accompanied by a bid guaranty in the form of a certified check, cashier's check, bank money order, irrevocable letter of credit, or bidder's bond on the provided form, in the amount of five percent of the largest possible lump sum bid submitted, payable to the City of Midland. This bid guaranty serves as assurance that the winning bidder will execute the required payment bond within fifteen days after notice of award. The City of Midland must be named as Obligee on all bid sureties and payment bonds. Any proposals submitted without the required bid guaranty will not be considered.