Prices quoted by the vendor/supplier must be exclusive of all taxes. The University of Nebraska-Lincoln is exempt from the payment of federal excise taxes and state and local taxes. Federal excise tax exemption certificates will be provided upon request.
14. BID SECURITY
Bid security may be required for Sealed Bids in certain instances. It is required as a guarantee that the successful bidder will enter into a contract if it is awarded to them. The bid security may be in the form of a certified check or a bid bond executed by a surety company. The amount of the bid security will be specified in the solicitation document. However, the general amount required is five percent (5%) of the total bid price.
15. PERFORMANCE BOND
The successful bidder may be required to secure a performance bond. Performance bonds are generally required on construction projects, and usually are in an amount which is equal to 100% of the price specified in the contract.
16. CERTIFICATE OF INSURANCE
Successful bidders performing work on University of Nebraska premises are required to complete a Certificate of Insurance form, naming the Board of Regents of the University of Nebraska as an additional insured. This certificate must be on file in the Purchasing Department prior to any commencement of work at a job site. Insurance coverages are required regarding bodily injury, personal injury, liability coverage, property damage, liability coverage, and workman's compensation coverage.
17. BID CORRECTION/WITHDRAWAL
A correction may be made to a bid by a bidder provided the correction is made or received prior to the date and time of the bid opening. A correction may be made in person or in writing. Telephone corrections are not accepted. A written request for the withdrawal of a bid or any part thereof may be granted if the request is received by the Purchasing Department prior to the specified time of opening. The written request must provide the specifics associated with the withdrawal. Telephone requests for withdrawal are not accepted.
