Del. Admin. Code tit. 2, 2000, 2400, 2408, app B
Current through Register Vol. 28, No. 5, November 1, 2024
The following statement shall be placed in the bid documents on the Proposal Certification page just above the signatures, which shall indicate the Bidder's acknowledgement, consent and agreement to the withholding of retainage by the Department:
"Bidder acknowledges that if its Performance-Based Rating as defined in 29 Del.C. § 6962 and section 2408 of Title 2 of Delaware's Administrative Code is below the required minimum threshold, as a condition to bid, Bidder acknowledges, consents and agrees to the Department withholding retainage of up to 5% from the monies due at the time of each progress payment under the contract."
Del. Admin. Code tit. 2, 2000, 2400, 2408, app B