Village of Glencoe
26-012 Glencoe Golf Club Croquet Short Game Area
Addendum 1
Bid Security, Bonds and Insurance
Bid Security. Each Bidder's Proposal shall be accompanied by a security deposit of at least
five percent (5%) of the base bid in the form of (1) a Cashier's Check or Certified Check
drawn on a solvent bank insured by the Federal Deposit Insurance Corporation and payable
without condition to Owner or (2) a Bid Bond in the form of a surety company licensed to do
business in the State of Illinois with a general rating of A and a financial size category of Class X
or better in Best's Insurance Guide.
Performance and Payment Bonds. The successful Bidder will be required to furnish a
Performance Bond and a Labor and Material Payment Bond upon award of the Contract,
each in the penal sum of the full amount of the Contract Price from a surety company meeting
the requirements set forth above. Each Bidder's Proposal must be accompanied by a letter
from such a surety company stating that it will execute Bonds in the Bid Package, upon award
of the Contract to Bidder.
Written acknowledgment of this addendum will be required to be submitted with the sealed
bid/proposal.
Signed: ________________________________________
Contractor: ____________________________________
Date: __________________________________________
Submitted:
Stella Nanos
General Manager
Village of Glencoe
May 26, 2026