Bonds
Bonds are required in Construction Contracting at The Ames Laboratory.
Performance Bonds - For Construction contracts greater than $100,000,
Ames Laboratory requires a performance bond for 100 percent of the
original contract price; and if the contract price increases, an
additional amount equal to 100% of the increase. Linked is SF 25,
showing an example of a Peformance Bond.
Payment Bonds - For Construction contracts greater than $25,000, Ames
Laboratory requires a payment bond for 100 percent of the original
contract price; and if the contract price increases, and additional
amount equal to 100% of the increase. Linked is SF 25A, showing an
example of a Payment Bond.
Bonds should be provided within (10) calendar days after the effective
date of the contract in a form and with sureties satisfactory to Ames
Laboratory.
Bid Security - Ames Laboratory may require a certified check,
cashier's check or an acceptable bidder's bond such as AIA Document
310, payable to the Ames Laboratory in an amount not less than 5% of
the largest possible total amount for the bid submitted, including the
consideration of alternates.
