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n <br />0.03 BID GUARANTEE (f <br />A. When a bid is $25,000 or less, bid security is not required. `) <br />When the bid is greater than $25,000, failure to furnish a bid guarantee <br />on the proper form and in an amount equal to at least 5 % of the <br />specified base bid, by the time set for opening of bids, will cause the bid <br />to be rejected. <br />B. The bidders snail furnish a bid guarantee in the form of a firm <br />commitment, such as a bid bond, postal money order, certified check, <br />or cashier's check, payable to the Washington State Treasurer. The <br />Owner will return bid guarantees (other than bid bond, becomes property <br />of the state) to unsuccessful bidders as soon as practicable, but no <br />sooner than the execution of a contract with the successful bidder. The <br />successful bidder's bid guarantee will be returned to the successful <br />bidder with its official notice to proceed with the work of the contract. <br />C. The bidder will allow 60 days for acceptance of its bid by the Owner. <br />The bidder will submit execute-d contract, insurance certificate and bond <br />or bond waiver within 15 days after receipt of the contract forms. If the <br />apparent successful bidder fails to execute all contractual documents or <br />provide a bond and insurance as required by the solicitation within the <br />time specified, the Owner may terminate the award of the contract. <br />D. In the event a bidder discovers an error in its bid following submission <br />of the bid to the Owner, the bidder may request to withdraw its bid <br />under the following conditions. <br />The bidder must provide documentation of the claimed error to the <br />Owner. The Owner shall review this documentation and determine <br />if withdrawal of the bid and release of the bid guarantee will be <br />allowed. <br />2. Notification of the bidder's intent to withdraw the bid due to error <br />along with supporting documentation, must be provided within 48 <br />hours of the bid opening. <br />3. The Owner will approve or disapprove the request for withdrawal <br />of the bid in writing. If the bidder's withdrawal is approved, the <br />bidder will be released from further obligation to the State of <br />Washington. <br />Instructions to Bidders <br />Page 2 -- July 1, 1993 <br />