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AIA Document A701 2018. Copyright ' 1970, 1974, 1978, 1987, 1997 and 2018. All rights reserved. The American Institute of Architects,
<br />American Institute of Architects, AIA, the AIA Logo, and AIA Contract Documents are trademarks of The American Institute of
<br />Architects. This draft was produced at 14:05:13 ET on 07/31/2024 under Order No.4104251442 which expires on 03/25/2025, is not for resale,
<br />is licensed for one-time use only, and may only be used in accordance with the AIA Contract Documentsfi Terms of Service. To report
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<br />User Notes: (1700874539)
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<br />security shall be forfeited to the Owner as liquidated damages, not as a penalty. In the event the Owner fails to comply
<br />with Section 6.2, the amount of the bid security shall not be forfeited to the Owner.
<br />§ 4.2.3 If a surety bond is required as bid security, it shall be written on AIA Document A310, Bid Bond, unless
<br />otherwise provided in the Bidding Documents. The attorney-in-fact who executes the bond on behalf of the surety shall
<br />affix to the bond a certified and current copy of an acceptable power of attorney. The Bidder shall provide surety bonds
<br />from a company or companies lawfully authorized to issue surety bonds in the jurisdiction where the Project is located.
<br />§ 4.2.4 The Owner will have the right to retain the bid security of Bidders to whom an award is being considered until
<br />(a) the Contract has been executed and bonds, if required, have been furnished; (b) the specified time has elapsed so that
<br />Bids may be withdrawn; or (c) all Bids have been rejected. However, if no Contract has been awarded or a Bidder has not
<br />been notified of the acceptance of its Bid, a Bidder may, beginning« »days after the opening of Bids, withdraw its Bid
<br />and request the return of its bid security.
<br />§ 4.3 Submission of Bids
<br />§ 4.3.1 A Bidder shall submit its Bid as indicated below:
<br />(Indicate how, such as by website, host site/platform, paper copy, or other method Bidders shall submit their Bid.)
<br />«As specified in the Notice to Bidders »
<br />§ 4.3.2 Paper copies of the Bid, the bid security, and any other documents required to be submitted with the Bid shall be
<br />enclosed in a sealed opaque envelope. The envelope shall be addressed to the party receiving the Bids and shall be
<br />identified with the Project name, the Bidders name and address, and, if applicable, the designated portion of the Work
<br />for which the Bid is submitted. If the Bid is sent by mail, the sealed envelope shall be enclosed in a separate mailing
<br />envelope with the notation SEALED BID ENCLOSED on the face thereof.
<br />§ 4.3.3 Bids shall be submitted by the date and time and at the place indicated in the invitation to bid. Bids submitted
<br />after the date and time for receipt of Bids, or at an incorrect place, will not be accepted.
<br />§ 4.3.4 The Bidder shall assume full responsibility for timely delivery at the location designated for receipt of Bids.
<br />§ 4.3.5 A Bid submitted by any method other than as provided in this Section 4.3 will not be accepted.
<br />§ 4.4 Modification or Withdrawal of Bid
<br />§ 4.4.1 Prior to the date and time designated for receipt of Bids, a Bidder may submit a new Bid to replace a Bid
<br />previously submitted, or withdraw its Bid entirely, by notice to the party designated to receive the Bids. Such notice
<br />shall be received and duly recorded by the receiving party on or before the date and time set for receipt of Bids. The
<br />receiving party shall verify that replaced or withdrawn Bids are removed from the other submitted Bids and not
<br />considered. Notice of submission of a replacement Bid or withdrawal of a Bid shall be worded so as not to reveal the
<br />amount of the original Bid.
<br />§ 4.4.2 Withdrawn Bids may be resubmitted up to the date and time designated for the receipt of Bids in the same
<br />format as that established in Section 4.3, provided they fully conform with these Instructions to Bidders. Bid security
<br />shall be in an amount sufficient for the Bid as resubmitted.
<br />§ 4.4.3 After the date and time designated for receipt of Bids, a Bidder who discovers that it made a clerical error in its
<br />Bid shall notify the Architect of such error within two days, or pursuant to a timeframe specified by the law of the
<br />jurisdiction where the Project is located, requesting withdrawal of its Bid. Upon providing evidence of such error to the
<br />reasonable satisfaction of the Architect, the Bid shall be withdrawn and not resubmitted. If a Bid is withdrawn pursuant
<br />to this Section 4.4.3, the bid security will be attended to as follows:
<br />(State the terms and conditions, such as Bid rank, for returning or retaining the bid security.)
<br />« Referf to Project Manual »
<br />Docusign Envelope ID: 52FACC74-DA96-491B-B0B8-04AC3961737D
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