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9.13     Bidding of Construction Contracts  

The policies of the Board of Regents, State of Iowa, for the bidding of construction contracts are in compliance with the requirements of the Iowa Code and Iowa Administrative Code.

            A.  Advertisement for Bids

1.   The university, in the name of the Board, shall advertise for bids for the contemplated improvement or construction consistent with provisions of Iowa Code.  

     B.  Public Competitive Biddin

          1.   Regents capital projects are governed by Iowa statutory requirements relating
               to Competitive Bidding (Section 262.34), Preference for Iowa Products
               (Chapter 73 of the Iowa Code) and Reciprocal Resident Bidder
               Preference (Section 73A.21).   
 

    2.      Pursuant to §262.34 of the Iowa Code, when the estimated cost of a
    construction contract is in excess of $100,000 the institution shall advertise
    for public competitive bid.  
 

   3.      Targeted Small Businesses Construction Contracts  

All laws and rules pertaining to solicitations, bid evaluation, contract awards, and other procurement matters apply to targeted small business targets to the extent there is no conflict.  If Iowa Code related to targeted small businesses conflicts with other laws or rules, then Iowa Code related to targeted small business shall govern. 

           C.  Bid Security  

     1.      As required by Iowa Administrative Code, bids are to be accompanied and
     secured by a cash deposit, cashier’s check, certified check, or a bid bond in
     an amount of at least 5 percent of the bids.  Bids accompanied and secured
     by any other form of bid security shall automatically be disqualified.  

    2.      As permitted by Iowa Code, on bids of $50,000 or less, Certified Targeted
    Small Businesses may either provide a bid bond OR a bond waiver from the
    Department of Inspections and Appeals.

    3.      Other provisions related to the requirements for and provisions of bid security
    are detailed in Iowa Administrative Code.