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14 <br /> ORANGE COUNTY <br /> NOR C-1R0I.I N <br /> 1. A minimum of three (3) sealed bids must be received. If fewer than three <br /> (3) bids are received, an advertisement soliciting bids will be published <br /> again. If after the second advertisement fewer than three (3) competitive <br /> bids are received from reputable and qualified contractors, OPT may open <br /> the bid(s) and award to the lowest responsible bidder even if only one bid <br /> is received. <br /> 2. A bid must be secured by a bond, certified check, or other negotiable <br /> instrument equal to five percent (5%) of the bid price to assure that the <br /> bidder will execute contractual documents as may be required within the <br /> time specified. <br /> 3. The execution of a contract for a project must be secured by performance <br /> security through a performance surety bond that is equal to 100 percent <br /> (100%) of the contract. <br /> 4. The execution of a contract for a project must be secured by payment <br /> security assuring payment to all persons supplying labor and material for <br /> the project in accordance with the following prescribed amounts: <br /> a. Fifty percent (50%) of the contract price if the contract price is not more <br /> than $1 million; <br /> b. Forty percent (40%) of the contract price if the contract price is more <br /> than $1 million but not more than $5 million; or <br /> c. Two and a half million dollars if the contract price is more than $5 <br /> million. <br /> Cost plus a percentage of cost and percentage of construction cost methods <br /> of contracting may not be used. <br /> Contractors awarded construction projects shall give hiring preference, to the <br /> extent practicable, to veterans who have the requisite skills and abilities to <br /> perform the work required under the contract. However, this standard shall <br /> not be understood, construed or enforced in any manner that would require <br /> an employer to give preference to any veteran over an equally qualified <br /> applicant who is a member of any racial or ethnic minority group, female, an <br /> individual with a disability, or former employee. <br /> E. Competitive Negotiation (Requests for Proposals) <br /> 12 <br />