(A) Purchases less than $25,000. The purchasing agent may not require evidence of financial responsibility when the estimated cost of a purchase is less than $25,000.
(B) Purchases between $25,000 and $100,000.
(1) The solicitation may include a requirement that an offeror provide evidence of financial responsibility. If evidence of financial responsibility is required, the solicitation must indicate the kind of evidence that will be acceptable.
(2) If a bond or certified check is required, it may not exceed 10% of the estimated cost of the purchase.
(C) Purchases over $100,000. The solicitation shall include a requirement that an offeror provide evidence of financial responsibility and must indicate the kind of evidence that will be acceptable. If a bond or certified check is required, it may not exceed 10% of the estimated cost of purchase.
(D) Retention of bonds or checks. Checks and other evidence of financial responsibility shall be retained in a secure place.
(Prior Code, § 2.18.2) (Ord. 1998-6, passed 7-21-1998)