Bid/Proposal Bond - Not Required with All Contracts - If Required, RFP or RFB will State so
Summary
LAWA may require 10% of the contract amount be paid up front to the Los Angeles World Airports as a guarantee that the bidder will enter into the proposed contract and furnish the required bonds.
The Bid/Proposal Bond is not required on all contracts - see RFP or RFB to determine if a Bond is required
Details:
Pursuant to the Los Angeles City Charter, Section 271, and the Los Angeles Administrative Code, Division 10, Chapter 1, Article 2, Section 10.15, it is the policy of the City of Los Angeles to require that every bid/proposal be accompanied by either (a) a check certified by a responsible bank in the City of Los Angeles; (b) a cashiers check issued by a responsible bank; (c) a corporate surety bond of a responsible surety company for an amount not less than ten percent (10%) of the amount bid, payable to the order of the City of Los Angeles, Department of Airports, as a guarantee that the bidder will enter into the proposed contract and furnish the required bonds.
Failure to include a Bid/Proposal Bond will render the bid/proposal non-responsive and will result in its rejection.
Documents:
For further information:
Please contact: Los Angeles World Airports Procurement Services Division, P.O.Box 92216, Los Angeles, CA 90009-2216; phone: (424) 646-5380, fax: (424) 646-9262, e-mail: procurementrequirements@lawa.org.
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