As prescribed in 28.101-3(b), insert the following clause in
solicitations and contracts that contain a requirement for a bid
guarantee. A clause substantially the same as this may be used for
negotiated contracts.
BID GUARANTEE (APR 1984)
(a) Failure to furnish a bid guarantee in the proper form and
amount, by the time set for opening of bids, may be cause for rejection
of the bid.
(b) The offeror (bidder) shall furnish a bid guarantee in the form
of a firm commitment, such as a bid bond, postal money order,
certified check, cashier's check, irrevocable letter of credit, or,
under Treasury Department regulations, certain bonds or notes of the
United States. The Contracting Officer will return bid guarantees,
other than bid bonds, (1) to unsuccessful bidders as soon as practicable
after the opening of bids, and (2) to the successful bidder upon
execution of contractual documents and bonds (including any necessary
coinsurance or reinsurance agreements), as required by the bid as
accepted.
(c) If the successful bidder, upon acceptance of its bid by the
Government within the period specified for acceptance, fails to
execute all contractual documents or give a bond(s) as required by
the solicitation within the time specified, the Contracting Officer
may terminate the contract for default.
(d) Unless otherwise specified in the bid, the bidder will (1)
allow 60 days for acceptance of its bid and (2) give bond within 10
days after receipt of the forms by the bidder.
(e) In the event the contract is terminated for default, the
bidder is liable for any cost of acquiring the work that exceeds the
amount of its bid, and the bid guarantee is available to offset the
difference.
(End of clause)
(R 1-10.103-3)
(R 7-2003.25 1964 JUN)
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