Albany Technical College Tender

Tenders are invited for Two-sided led sign replacement The awarded supplier(s) shall be required to furnish a performance bond or an irrevocable letter of credit to the State Entity for the faithful performance on the contract in an amount equal to 50% of the yearly contracted amount. The bond shall be issued by a Corporate Surety authorized to do business with the State of Georgia. The performance bond/letter of credit must be submitted to the State Entity within ten (10) calendar days of the date the contract is awarded, but in any event, prior to the beginning of any contract performance by the awarded supplier. The awarded supplier(s) shall be required to furnish a bond to secure payment of all claims for materials furnished and/or labor performed by a subcontractor in the event one or more subcontractors are utilized by the awarded supplier in performance of the project. The payment bond shall be in amount equal to 50% of yearly contract price for the portion of work and/or materials to be performed/provided by the subcontractor(s). The awarded supplier(s) must (1) receive prior approval from the State Entity prior to utilizing the subcontractor and (2) submit the payment bond(s) to the State Entity prior to permitting the approved subcontractor(s) to begin work.