A. 
Bid security shall be required for all competitive sealed bidding for construction contracts when the price is estimated by the designated official for construction contracting management to exceed $50,000. Bid security shall be a bond provided by a surety company authorized to do business in the state, or the equivalent in cash, or otherwise supplied in a form satisfactory to the Director of Finance and Administration. Nothing herein shall prevent the requirement of such bonds on construction contracts under $50,000 when the circumstances warrant.
B. 
Bid security shall be in an amount equal to at least 5% of the amount of the bid.
C. 
When the invitation for bids requires security, noncompliance requires that the bid be rejected unless it is determined that the bid fails to comply only in a nonsubstantial manner with the security requirements.
D. 
If a bidder is permitted to withdraw a bid before award as provided in § 83-15F, no action shall be taken against the bidder or the bid security.
A. 
When a construction contract is awarded in excess of $50,000, the following bonds or security shall be delivered to the City and shall become binding on the parties upon the execution of the contract:
(1) 
A performance bond executed by a surety company authorized to do business in Maine and who is listed on the U.S. Treasury Department list of acceptable sureties as published in Department Circular 570 or otherwise secured in a manner satisfactory to the City in an amount equal to 100% of the price specified in the contract; and
(2) 
A payment bond executed by a surety company authorized to do business in the State of Maine and who is listed on the U.S. Treasury Department list of acceptable sureties as published in Department Circular 570 or otherwise secured in a manner satisfactory to the City for the protection of all persons supplying labor and material to the contractor or its subcontractors for the performance of the work provided for in the contract. The bond shall be in an amount equal to 100% of the price specified in the contract.
B. 
The Purchasing Officer may reduce the amount of performance and payment bonds to 50% of the contract price for each bond when a written determination is made that it is in the best interests of the City to do so.
C. 
Nothing in this section shall be construed to limit the authority of the City to require a performance bond or other security in addition to those bonds, or in circumstances other than specified in Subsection A of this section; nor shall this section be construed to limit the authority of the City to require warranties or guarantees against defects where circumstances recommend them.
For all contracts, the contractor and all subcontractors shall be required to maintain adequate insurance coverage for the duration of the contract. The City shall determine the types and amounts of coverage that shall be required, as recommended by the City's insurance consultants. The contractor shall have the City named as an additional insured as its interest may appear and furnish the City with satisfactory evidence of said insurance.
Once the bid/request for proposal document has been issued, all questions regarding this document shall be submitted in writing to the Purchasing Officer or issuing department/bureau. Any and all addenda shall be issued by the Purchasing Officer or issuing department or bureau pursuant to any alterations required in the bid document. If it is determined that a bidder/offeror received an unfair advantage from information obtained through other departments or agencies, the bid or request for proposal may be canceled.
A. 
Council notification. The City Council shall be notified of all non-School Department purchases of supplies, construction and/or purchase of services which require competitive sealed bidding or competitive sealed proposals under this chapter.
B. 
School Board notification. The School Board shall be notified of all School Department purchases of supplies, construction and/or purchase of services which require competitive sealed bidding or competitive sealed proposals under this chapter.
Procurement information shall be a public record subject to the exceptions of disclosure to the extent provided in the Maine Freedom of Information Act, and shall be available to the public as provided by the City of Augusta policy implementing said Act.