All contracts for equipment, supplies, and services may require bid security and performance bonds at the discretion of the Procurement Director in consultation with the using department head. Bid security when required, shall be in an amount equal to at least 5% of the amount of the bid. Performance bonds, when required, will normally be equal to 100% of the contract. A determination regarding bids received for equipment, supplies, and services without requiring bid security will be made by the Procurement Director in the same manner as provided for in § 7-502. A cashiers/official bank check made payable to the County may be submitted in lieu of a bond, or a letter of credit under circumstances deemed acceptable by the Procurement Director and the County Attorney’s office. Bonding requirements will be set forth in the solicitation.
(Ord. 3704, passed 6-17-2003; Ord. 5051, passed 1-22-2019)