Are bid deposits and/or performance bonds required?

Bid bonds, and payment and performance bonds are routinely requested on most bids exceeding $15,000 in value. The bid/proposal documents will detail the requirements. A cash deposit, certified check, cashier’s check, Certificate of Deposit, or money order made payable to the City of Titusville and referencing the solicitation number, or a satisfactory bid bond executed by the bidder and surety company acceptable to the City, must be submitted with the bid and in an amount equal to 5% of the bid or an amount as detailed in the specification. Company or personal checks are not acceptable.

In the event a bidder is awarded all or any portion of the bid, the 5% bid bond will be returned after the bidder satisfactorily submits payment and performance bonding equal to 100% of the total bid/proposal amount or other bond, in other amount, as required by the bid/proposal documents. Should the bidder fail or refuse to enter into a contract with the City in the event any portion of the proposal of the bidder is accepted, or should the bidder fail to make deliveries of the payment and performance bonding as required, their bid bond will be forfeited.

If the bidder is not awarded any item, the bid bond or check furnished with the bid will be returned immediately upon award of the bid or as detailed in the specifications. The contractor will be responsible for attorney fees in the event the contractor defaults and court action is required.

Show All Answers

1. What are the Purchasing Policies of the City?
2. Where do I call?
3. How does the City buy?
4. How do I join the City's Vendor List?
5. Can I view information via the Internet?
6. How do I obtain specifications?
7. Does the City use price sheets?
8. Does the City hold pre-bid conferences?
9. Are addendums issued?
10. Is insurance required?
11. How do I submit a bid?
12. Are sample bids required?
13. Are bids rejected?
14. Are bid deposits and/or performance bonds required?
15. What are the required delivery dates?
16. What are the shipping and delivery points?
17. Is tax to be included on the invoice?
18. What should be on the vendor's invoice?
19. Does the City use Purchasing Cards?
20. When are payments made?
21. What if my question is not covered here?