Form of Bid Bond

This document summarizes a Request for Proposal (RFP) for the Rowan University Shreiber School of Veterinary Medicine and Research Tower Furniture, Fixtures, and Equipment (FFE). The RFP outlines the project details, contract terms, and conditions between Rowan University (the Owner) and the awarded bidder (the Contractor). **Project Details:** - Project Name: RFP 25-21 Shreiber School of Veterinary Medicine and Research Tower FFE - Location: Rowan University, 201 Mullica Hill Road, Glassboro, NJ 08028 - Architect: Erdy McHenry Architecture, LLC **Contract Terms:** - Contract Sum: [AWARDED CONTRACTOR AMOUNT] - Substantial Completion Date: August 15, 2025 - Liquidated Damages: $1000 per day for each calendar day substantial completion is not achieved and $1000 per day for each calendar day work on the closeout/punch list is incomplete. **Payment Terms:** - Progress payments will be made based on Applications for Payment submitted by the Contractor and Certificates for Payment issued by the Architect. - Applications for Payment must be received by the Architect no later than the last day of each month. - Payment will be made within 45 days of receiving the Application for Payment. - Retainage of 5% will be withheld from each progress payment until Substantial Completion. **Dispute Resolution:** - Initial Decision Maker: The Architect will serve as the Initial Decision Maker unless otherwise agreed upon. - Binding Dispute Resolution: Arbitration pursuant to Section 15.4 of AIA Document A201-2017 or Litigation in New Jersey Superior Court, Gloucester County. **Insurance and Bonds:** - The Owner and Contractor shall purchase and maintain insurance as set forth in AIA Document A101™-2017, Exhibit A, Insurance and Bonds. - The Contractor shall provide bonds as set forth in AIA Document A101™-2017 Exhibit A. **Contract Documents:** - The Contract Documents include the Agreement, Conditions of the Contract, Drawings, Specifications, Addenda, Bid Solicitation, Bid Submission, Modifications, and other listed documents. - The enumeration of Contract Documents is provided in Article 9 of the RFP. **Additional Provisions:** - The Contractor must provide a full and complete copy of all insurance policies upon request by the Owner. - The Agreement, General