GROUP 60010 - FORM MV-999 CERTIFICATE OF TITLE FOR
AWARD PAGE 4
VEHICLES AND VESSELS (DMV)
CONTRACT PERIOD AND RENEWALS: (Cont'd)
suspension or cancellation contained in the "Suspension of Work" and "Cancellation" clauses in Appendix B, OGS General Specifications.
Prices are firm for the entire period of the contract. Price escalation will not be allowed and is specifically excluded from the terms and conditions of the contract award. Price decreases are permitted at any time.
If the Printing Law permits, and if mutually agreed between the Procurement Services Group and the contractor, the contract may be renewed under the same terms and conditions for additional period(s) not to exceed a total contract term of five (5) years.
SHORT TERM EXTENSION:
If the Printing Law permits, in the event the replacement contract has not been issued, any contract let and awarded hereunder by the State, may be extended unilaterally by the State for an additional period of up to one month upon notice to the contractor with the same terms and conditions as the original contract including, but not limited to, quantities (prorated for such one month extension), prices, and delivery requirements. With the concurrence of the contractor, the extension may be for a period of up to three months in lieu of one month. However, this extension terminates should the replacement contract be issued in the interim.
At any time upon the request of the Office of General Services, the contractor shall, within fifteen (15) days of request and at its own cost and expense, obtain and maintain in full force and effect for sixty days after contract expiration:
∙an irrevocable documentary LETTER OF CREDIT with a sound and reputable bank authorized to do business in the State of New York, OR
∙a PERFORMANCE BOND signed by a surety company authorized to do business in the State of New York, OR
∙a PAYMENT BOND signed by a surety company authorized to do business in the State of New York,
in the amount of 75% of the estimated contract value for the faithful performance of the contract. The LETTER OF CREDIT, PERFORMANCE BOND, PAYMENT BOND, etc., shall name as beneficiary the State of New York, Office of General Services, and may be invoked to the benefit of the State of New York, Office of General Services, upon delivery of a certified statement to the issuing bank or surety company that the contractor has failed to perform pursuant to the terms and conditions of its contract with the State of New York.
The Letter of Credit or Bond shall be provided on a yearly basis for each year, or portion, of the contract. The letter of credit or performance or payment bond will show that in the event of default by the contractor to perform under the terms of the contract:
1.That the State of New York will be damaged in the amount of $1,500.00 per day for late delivery and
2.That the State will be damaged in the amount of $.50 for each missing document or one which is improperly printed or mutilated during the process of production and not delivered.
The surety bond shall be delivered to the State of New York, Office of General Services, Procurement Services Group within fifteen (15) days from the date of request.
a.New York State will be indemnified for each imperfectly printed, imperfectly perforated, imperfectly spliced, duplicate, missing, mutilated, or unnumbered or inaccurately numbered document received from the vendor.
b.In addition, New York State will be indemnified for documents voided during our preparation process because of problems resulting from the documents referred to in a. above.