029.25.B3 Fire Alarm System Improvements - Fulton Elementary School

The contract is for fire alarm system improvements at Fulton Elementary School, with a contract sum of $162,281. The contractor, Tekniwell Inc, is responsible for fully executing the work described in the contract documents. The contract includes provisions for progress payments, final payment, and termination or suspension of the work. The contractor is also required to purchase and maintain insurance and provide bonds as set forth in the contract documents. Key aspects of the contract include: • The contract sum is $162,281, with a contingency of $50,000 for unforeseen costs. • The contractor is responsible for achieving substantial completion of the work by August 13, 2025. • The contract includes provisions for liquidated damages in the event of delays. • The contractor is required to indemnify the owner against claims, damages, and losses arising from the work. • The contract includes provisions for dispute resolution and termination or suspension of the work.