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Page 7 of 25 <br /> <br />The Contractor acknowledges that by submitting a bid, the Contractor’s proposed pricing is <br />bound for 90 days after the Bid Submittal Deadline. <br />SECTION VII. TERMS AND CONDITIONS <br /> <br />A. City’s Standard Terms and Conditions <br /> <br />The terms and conditions set forth in Attachment D - Sample Agreement for Services will <br />apply to any contract resulting from this NIB. <br /> <br />B. Pricing <br /> <br />Pricing shall remain firm throughout the first year term of the contract. At the end of the <br />initial contract term and each contract anniversary date thereafter for the duration of the <br />contract, prices may, upon Contractor or City request, be increased or decreased. Any price <br />increases will be tied to the Consumer Price Index (CPI) and approved at the discretion of the <br />City. If accepted, the price increase will remain firm throughout the subsequent one-year <br />period. In the event prices are reduced, the reduced price shall apply to all subsequent <br />purchases following the date of the price decrease through to the following contract <br />anniversary date. The Contractor shall submit to the City a revised unit price schedule and <br />supporting CPI information for any requested changes. <br /> <br />SECTION VIII. CONTRACT AWARD <br /> <br />The PWS will recommend to the awarding authority the award of a contract to the lowest <br />responsive and responsible Bidder. Award of contract occurs when a Purchase Order is issued or <br />other evidence of acceptance by the City is provided to the Bidder. A Recommendation of Award <br />does not constitute award of contract. <br /> <br />Contract documents will consist of the Agreement for Services, this NIB and all related <br />attachments, the Successful Bidder’s written bid, and a Purchase Order issued by the City’s <br />Finance Department. <br /> <br />SECTION IX. RIGHTS OF THE CITY <br /> <br />This NIB does not commit the City to enter into a contract, nor does it obligate the City to pay for <br />any costs incurred in preparation and submission of bids or in anticipation of a contract. The City <br />reserves the right to: <br /> <br />• Make the selection based on its sole discretion; <br />• Reject any and all bids; <br />• Issue subsequent Notices Inviting Bids; <br />• Postpone contract start date for its own convenience; <br />• Remedy technical errors in the NIB process; <br />8.E. - Page 22 of 41 <br />79