103.01Consideration ofProposals.After opening and reading the Bids, the Department will compare the Biddersí proposed prices.The proposed price is the summation of the products of the estimated quantities shown in the Proposaland the unit Bid prices.If the amount shown for the proposed product differs from the actual product of the unit Bid price and the estimated quantity, then the actual product will govern.

The Department may reject any or all Bids, waive technicalities, or advertise for new Bids without liability to the Department.

103.02Awardof Contract.The Department will award a Contract or reject Bids within 10 days after Bid opening.The Department will mail a letter to the address on the Bid notifying the successful Bidderof Bid acceptance and Contract award.The Department will award to the lowest competent and responsible bidder.The Department will not award a Contract until it completes an investigation of the apparent low Bidder.

If the Departmentís estimate for the cost of the improvement is not confidential, the Department will not award a Contract for an amount greater than 5 percent more than the Departmentís estimate.If the Departmentís estimate is confidential, the Department may award the Contract according to ORC 5525.15.

103.03Cancellation ofAward. The Department may cancel a Contract award at any time before all parties sign the Contract without liability to the Department.

103.04Return of ProposalGuaranty.Immediately after the opening and checking of Bids, the Department will return all Proposal Guaranties provided in the form of a certified check or cashierís check, except to the three lowest Bidders.Within 10 days after opening bids, the Department will return the Proposal Guaranties of the two remaining unsuccessful Bidders.After the successful Biddersubmits the signed Contract, Contract Bonds, and other Contract Documents, and after the Department signs the Contract, the Department will return the Proposal Guaranty to the successful Bidder.The Department will not return Bid bonds.

103.05Requirement of Contract Bond. Furnish Contract Bonds within 10 days after receiving notice of award.Furnish Contract Bonds to the Director on the prescribed form, in the amount of the Departmentís estimate, and according to ORC 5525.16.

103.06Execution ofContract.Signand return the Contract, along with the certificate of compliance, Contract Bonds, and other required Contract Documents, within 10 days after notice of award.The State does not consider a proposal binding until the Director signs the Contract.If the Director does not sign the Contract within 20 days after receiving the successful Bidderís signed Contract, certificates, Contract Bonds, and other Contract Documents, the successful Bidder may withdraw the Bid without prejudice.

103.07Failure to Execute Contract.If the successful Bidderfails to sign the Contract and furnish the Contract Bonds, the Department will have just cause to cancel the award.The successful Bidder shall forfeit the ProposalGuaranty to the Department, not as a penalty, but as liquidated damages.The Department may award the Contract to the next lowest responsive Bidder, re-advertise the Work, or take any other action decided by the Director.