Standard Bus Procurement Guidelines - APTAStandards.com

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Standard Bus Procurement Guidelines and currency of the cost or pricing data. The right of examination shall extend to all documents necessary for adequate evaluation of the cost or pricing data, along with the computations and projections used therein, either before or after execution of the Contract modification or change order for the purpose of conducting a cost analysis. If an examination made after execution of the contract modification or change order reveals inaccurate, incomplete, or out-of-date data, the Contracting Officer may renegotiate the contract modification or change order price adjustment and the Procuring Agency shall be entitled to any reductions in the price that would result from the application of accurate, complete or up-to-date data. (FTA does not require contractors to flow down these requirements to subcontractors.) C. For any cost reimbursable work the Contractor shall maintain and the Contracting Officer, the U.S. Department of Transportation (if applicable), or their representatives shall have the right to examine books, records, documents, and other evidence, including review of accounting principles and practices that reflect properly all direct and indirect costs incurred as related to said cost reimbursable work. 1. The materials described in Paragraphs A, B and C above shall be available at the Contractor's office at all reasonable times for inspection, audit, and making excerpts and transcriptions until three years from the date of final payment under the Contract except that the materials described in Paragraph A above shall also be available prior to any award and materials relating to "Service and Parts" (Section 2.5). For records relating to appeals under "Disputes" (Section 2.2.7), "Audit and Inspection of Records" (this Section 2.6), litigation, or the settlement of claims arising out of the negotiation or the performance of contract modifications, records shall be kept available until such appeals, litigation, or claims have been disposed of. 2. The Contracting Officer and his/her representative and any other parties authorized under this clause shall employ sound business practices to protect the confidence of the data specified under this clause, for which the Contractor provides access, against disclosure of such information and material to third parties except as permitted by the Contract. The Contractor shall be responsible for ensuring that any confidential data bears appropriate notices relating to its confidential character. 3. The requirements of this section are in addition to other audit, inspection, and record-keeping provisions specified elsewhere in the Contract documents. 2.7 RISK 2.7.1 INSURANCE (Procuring Agency to insert insurance requirements of local law or policy) 2.7.2 PERFORMANCE BOND The Contractor shall furnish at its own expense performance security in the form of a cashier's check, or letter of credit in a form approved by the Procuring Agency before offer submission, or a General Contractual Provisions 80 10/18/07
Standard Bus Procurement Guidelines performance bond, from a surety duly licensed to do business in the state of (Procuring Agency to insert its state) having a financial rating from A. M. Best Company of "A VIII" or better, in the amount of (maximum of 25 % where there are no progress payments and payment is made upon delivery and acceptance; or in the case of progress payments set at the Procuring Agency's financial exposure for cumulative payments) percent of the full amount of the Contract. The bond shall cover all of Contractor's obligations under the Contract except for the warranty and shall remain in force until said obligations have been fulfilled. The bond amount may be reduced as follows: (1) to 65 (sixty-five) percent of the original amount when 50 (fifty) percent of the required number of buses are delivered and accepted, (2) to 30 (thirty) percent of the original amount when 75 (seventy-five) percent of the required number of buses are delivered and accepted, and (3) to zero percent of the original amount when 100 (one hundred) percent of the required number of buses are delivered and accepted. In the case that a surety shall become insolvent, its license is revoked or suspended, or in the case of a surety approved on the basis that it is listed as an approved federal surety, that such federal approval is revoked or suspended, the Contractor, within five days after notice by the Procuring Agency, shall substitute other and sufficient surety or sureties. If the Contractor fails to do so, such failure shall be an event of default. (NOTE: In such event as described above the Procuring Agency may negotiate, in lieu of declaring the Contractor in default, deduct money for the risk or the purchase of a replacement bond.) 2.7.3 PRODUCTION OF DOCUMENTS Upon award of the Contract to an Offeror, such Offeror shall commence performance under the Contract by executing all Contract Guaranty Agreements provided with the Offer, by furnishing any required bonds, and by furnishing copies of the certificates of insurance required to be procured by the Contractor pursuant to the Contract documents within (Procuring Agency to complete) calendar days after the date of receipt of the notice of award or within such further time as the Procuring Agency may allow. Failure to fulfill these requirements within the specified time is cause for termination of the Contract under "Termination for Default" (Section 2.2.5.2). 2.7.4 INDEMNIFICATION The Contractor shall, to the extent permitted by law (1) protect, indemnify and save the Procuring Agency and its officers, employees and agents, including consultants, harmless from and against any and all liabilities, damages, claims, demands, liens, encumbrances, judgments, awards, losses, costs, expenses, and suits or actions or proceedings, including reasonable expenses, costs and attorneys' fees incurred by the Procuring Agency and its officers, employees and agents, including consultants, in the defense, settlement or satisfaction thereof, for any injury, death, loss or damage to persons or property of any kind whatsoever, arising out of, or resulting from, the negligent acts, errors or omissions of the Contractor, including negligent acts, errors or omissions of its officers, employees, servants, agents, subcontractors and suppliers; and (2) upon receipt of notice and if given authority, shall settle at its own expense or undertake at its own expense the defense of any such suit, action or proceeding, including appeals, against the Procuring Agency and its officers, employees and agents, including consultants, relating to such injury, death, loss or damage. Each party shall promptly notify the other in writing of the notice or assertion of any claim, demand, lien, encumbrance, judgment, General Contractual Provisions 81 10/18/07
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Standard Bus Procurement Guidelines - APTAStandards.com

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