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1 <br /> City. A Surety Company that is rejected by the City may be <br /> substituted by the bidder or proposer with a surety company <br /> 1 acceptable to the City, only if the bid amount does not increase. <br /> a. The Surety Company shall have at least the following minimum <br /> ratings: <br /> 1 Amount of Bond Policyholder's Rating Financial Size <br /> Category <br /> 1 100,000 to 1,000,000 B++ Class V or higher <br /> 1,000,001 to 2,000,000 A- Class VI or higher <br /> 1 2,000,001 to 5,000,000 A Class VII or higher <br /> b. All Surety Companies are subject to review and approval by the <br /> 1 Owner and may be rejected without cause. All bonds signed by an <br /> Agency must be accompanied by a certificate of authority to act. <br /> 1 15.5 The Surety Company shall submit verification from the Department of <br /> Insurance Office of the Treasurer stating the surety company's license and <br /> certificate of authorization to do business in the State of Florida. <br /> 1 16. SUBCONTRACTOR LIST <br /> 1 16.1 In conjunction with the Bid Form, Bidder shall submit a list of names of the <br /> subcontractors and major material suppliers proposed for the principal <br /> portions of the Work. Submit list on form provided by the Engineer. <br /> 1 16.2 Prior to award of Contract, the Owner will notify the Bidder in writing if they <br /> have an objection to any person or entity listed. Upon such reasonable <br /> 1 objection, the Bidder shall propose an acceptable substitute person or <br /> entity in accordance with Article 6.06 of the General Conditions. <br /> 17. BID PROTEST <br /> 17.1 In the event of a timely protest, the City Manager or his/her designee shall <br /> 1 stay the award of the contract unless, after consulting with the City <br /> Attorney and the affected director, he/she determines that the award of the <br /> contract without delay is necessary to protect substantial interests of the <br /> 1 Owner. <br /> 17.2 The city shall require a deposit from a protester to compensate the Owner <br /> for the expenses of administering the protest. If the protest is decided in <br /> the protester's favor, the entire deposit shall be returned to the protester. If <br /> 1 the protest is not decided in the protester's favor, the deposit shall be <br /> forfeited to the Owner. The deposit shall be in the form of a cashier's <br /> check and shall be in the amount of 3% (three percent) of the amount of <br /> 1 the estimated price quoted, bid or proposal amount, or $30,000.00 (thirty <br /> thousand dollars), whichever is less. <br /> 1 05/08 Final Version 00100-7 05-4893 <br />