The contract for the new Simon Sanchez High School shall provide for the construction of and FF&E services for the new Simon Sanchez High School in accordance with the Guam Building Code under Chapter 67 of Title 21, Guam Code Annotated, and any other applicable requirements. The contract shall contain contractual obligations typically found in government of Guam construction contracts, including, but not limited to, the following: (a) all major subcontracts shall be covered by a performance bond; (b) the government of Guam and financing entities, or bondholders, shall be the named obligee under the bond; (c) the government of Guam shall have the sole right to call on the bid bond; (d) requirements to obtain performance and or payment bonds, indemnification, standard insurance specifications, technical building/construction specifications, construction progress schedule, applicable and or necessary maintenance schedules, and compliance with applicable rules, regulations, and Guam law; and
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(e) there shall be a specific delivery date with liquidated damages for failure to deliver the new Simon Sanchez High School by the specified date, which may include warranties for liquidated damages.