Upon RUS approval of the P&S, the borrower shall proceed as follows:
- (a) Bid documents shall consist of a copy of the approved P&S, including RUS Contract Form 257, completed in accordance with the instructions on the cover of the form and the plot plans showing site development details. For contracts in amounts of $100,000 or less, the borrower must specify in the Notice and Instructions to Bidders whether the contractor will be required to furnish a performance bond or a builder's risk policy.
- (b) The borrower shall determine that title to the real estate has been approved by RUS before the invitations to bid are released.
- (c) The borrower shall set the time for opening of bids, allowing ample time for bidders to prepare bids.
- (d) The borrower shall solicit bids as set forth in § 1753.8(a)(2). Invitations shall be sent to at least six prospective bidders.
- (e) The borrower shall conduct bid opening and award of contract in accordance with the procedure set forth in § 1753.8(a).