Exhibit_N_-_Bonding_Requirements_24_CFR_PART_85.36.pdf
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- Solicitation number
- 26-B-29IF
- Issued by
- Volusia County, Florida
About this file
This document is an administrative requirements exhibit for 24 CFR Part 85.36 bonding requirements applicable to the Seville Village Improvement Association Pavilion Construction project in Volusia County, Florida, a federally assisted Community Development Block Grant (CDBG-CV) funded initiative. The project involves construction of a new pavilion at the Seville Village Improvement Association site and is subject to federal labor standards including the Davis-Bacon Act and the Copeland Act. Contractors are required to submit a building permit for approval prior to construction. The prime contractor bears responsibility for wage compliance enforcement and supporting documentation throughout the project duration and may be held liable for wage restitution. The project is also subject to Section 3 and M/WBE provisions.
The bonding requirements mandate that for construction contracts exceeding the simplified acquisition threshold, bidders must provide a bid guarantee equivalent to five percent of the bid price in the form of a bid bond, certified check, or other negotiable instrument. Upon contract award, the contractor must furnish a performance bond for 100 percent of the contract price to secure fulfillment of all contractual obligations and a payment bond for 100 percent of the contract price to assure payment to all laborers, mechanics, and material suppliers. Proof of bonding must be verified prior to issuance of the notice to proceed. As a federally assisted project, this contract is subject to prevailing wage rate requirements as determined by the Secretary of Labor in accordance with applicable federal regulations.
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Text version
24 CFR PART 85.36 Administrative Requirements for Grants and Cooperative Agreements to State, Local and Federally Recognized Indian Tribal Governments
Compliance with the following bonding requirements is mandatory.
Proof of bonding will be verified prior to issuance of the notice to proceed.
(h) Bonding requirements.
For construction or facility improvement contracts or subcontracts exceeding the simplified acquisition threshold, the awarding agency may accept the bonding policy and requirements of the grantee or sub grantee provided the awarding agency has made a determination that the awarding agency's interest is adequately protected. If such a determination has not been made, the minimum requirements shall be as follows:
(1) A bid guarantee from each bidder equivalent to five percent of the bid price. The bid guarantee shall consist of a firm commitment such as a bid bond, certified check, or other negotiable instrument accompanying a bid as assurance that the bidder will, upon acceptance of his bid, execute such contractual documents as may be required within the time specified.
(2) A performance bond on the part of the contractor for 100 percent of the contract price. A performance bond is one executed in connection with a contract to secure fulfillment of all the contractor's obligations under such contract.
(3) A payment bond on the part of the contractor for 100 percent of the contract price. A payment bond is one executed in connection with a contract to assure payment as required by law of all persons supplying labor and material in the execution of the work provided for in the contract.
https://www.hud.gov/sites/documents/24CFR85-36PROC.PDF
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