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429
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MARVIN MANDEL, Governor
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675,000
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TO
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724,999.99
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725,000
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TO
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774,999.99
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775,000
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TO
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824,999.99
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825,000
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TO
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874,999.99
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875,000
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TO
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924,999.99
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925,000
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TO
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974,999.99
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975,000
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TO
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1,000,000 ...
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22,000
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25,000
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30,000
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35,000
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40,000
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45,000
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50,000
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OVER 1,000,000.....................5% OF THE AMOUNT BID.
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(F) OPENING OF BIDS; AWARD OF CONTRACT.
THE BIDS SHALL BE OPENED PUBLICLY AT THE TIME
SPECIFIED IN THE NOTICE. THE ADMINISTRATION SHALL AWARD
THE CONTRACT FOR THE WORK OR FOR THE SUPPLIES AND
MATERIALS REQUIRED FOR THE PROJECT TO THE LOWEST
RESPONSIBLE BIDDER, UNLESS, IF PERMITTED BY LAW, THE
ADMINISTRATION DETERMINES THAT THE INTERESTS OF THIS
STATE WILL BE SERVED BETTER BY AWARDING THE CONTRACT TO
SOME OTHER BIDDER.
(G) RETURN OF CHECKS.
(1) AFTER THE CONTRACT IS AWARDED TO THE
SUCCESSFUL BIDDER, THE ADMINISTRATION SHALL RETURN THE
CHECKS OF THE UNSUCCESSFUL BIDDERS TO THEM.
(2) AFTER EXECUTION OF THE CONTRACT AND BOND
BY A SUCCESSFUL BIDDER, THE ADMINISTRATION SHALL RETURN
HIS CHECK TO HIM.
(H) EXECUTION OF CONTRACT AND BOND; FAILURE TO
COMPLY.
(1) PROMPTLY AFTER A COMPETITIVELY BID
CONTRACT IS AWARDED, THE SUCCESSFUL BIDDER SHALL EXECUTE
A FORMAL CONTRACT, TO BE APPROVED AS TO ITS FORM, TERMS,
AND CONDITIONS BY THE ADMINISTRATION, AND EXECUTE AND
DELIVER TO THE ADMINISTRATION A GOOD AND SUFFICIENT BOND,
TO BE APPROVED BY THE ADMINISTRATION, TO THE STATE OF
MARYLAND IN AN AMOUNT EQUAL AT LEAST TO THE AMOUNT OF THE
CONTRACT PRICE. THE ADMINISTRATION MAY NOT ACCEPT A BOND
UNLESS THE OBLIGORS BIND THEMSELVES TO PAYMENT OF ALL
LEGALLY ENFORCEABLE DEBTS FOR LABOR AND MATERIALS
INCURRED BY THE BIDDER IN THE PERFORMANCE OF THE
CONTRACTED FOR STATE HIGHWAY PROJECT.
(2) IF ANY SUCCESSFUL BIDDER FAILS TO EXECUTE
PROMPTLY THE CONTRACT AND THE BOND FOR THE COMPLETION OF
THE WORK AS PROVIDED IN THE CONTRACT SPECIFICATIONS, HE
FORFEITS THE CONTRACT AND, AS THE CASE MAY BE:
(I) THE CHECK THAT ACCOMPANIED THE BID SHALL
BE FORFEITED, AS LIQUIDATED DAMAGES AND NOT AS A PENALTY;
AND
(II) THE BID BOND IS IN DEFAULT AND THE
SURETY IS LIABLE FOR THE FULL AMOUNT OF THE DAMAGE
SUSTAINED BY THE ADMINISTRATION BY REASON OF THE BIDDER'S
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