Prior to commencement of the contract's term or execution by the City, each Contractor covered by the bill's requirements will certify to the satisfaction of the City that its employees are paid the minimum wage standard as provided by the Chapter. As part of any bid, application or proposal for any agreement or contract, or other funding arrangement with the City covered by this Chapter, the submitter shall include an acknowledgment, in a form acceptable to the City, of the terms of this Chapter and intent to comply therewith.