Caption: Board of Trustees Minutes - 1958
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1230 BOARD OF TRUSTEES [April 17 in the State of Illinois. If the surety on the bond has its authority to do business in this State revoked or if for any reason it withdraws from doing business in this State, the bidder must promptly obtain another surety on the bond. d. Condition of bond. The bond shall be conditioned on full performance of all obligations imposed on the bidder by the contract with the University. It shall provide that if the bidder fails to perform any of such obligations the University of Illinois may recover from the bidder and the surety (or either of them) any and all damages suffered because of the breach of contract. e. Source of supply may also be required to file bond. If the bidder does not have a stock of the commodity or equipment in question in the amount asked for, nor facilities to produce the item in such amount, the University may in addition require the source of supply to file a Performance Bond, with surety, conditioned on such source supplying the bidder as stated in the bid. SECTION 17. DELIVERIES UNDER THE CONTRACT a. Upon order. Deliveries shall be made upon the written order of the Purchasing Official or as stated in a contract at the times and in the amounts specified in the Invitation to Bid and in such orders for delivery. Acceptance of any late deliveries shall not constitute a waiver of any of the rights of the University under its contract with the vendor. b. Delivery point. All deliveries shall be made to the point or points specified in the Invitation to Bid. SECTION 18. INSPECTION a. All deliveries subject to inspection. Any commodities or equipment that fail in any respect, for example, ( l ) to meet the specifications, (2) to conform to the vendor's samples, or (3) are not in good condition when delivered, will be subject to rejection. b. Notice to vendor or contractor. Notice of any such rejection based on defects that should be disclosed by ordinary methods of inspection will be given to the vendor or contractor within a reasonable time after delivery of the item. Notice of latent defects which would make the items unfit for the purpose for which they are required may be given by the University at any time within one year after delivery. c. Vendor or contractor must remove rejected items. The vendor or contractor may be required to remove immediately, at his own expense, any items rejected by the University. If he fails to remove the items, the University may sell them and remit the proceeds of the sale (less any expenses incurred in the sale) to the vendor or contractor. d. Inspection at source. In some cases the University may require that the vendor or contractor permit inspection of the commodities or equipment at the factory, plant, or other establishment where they are produced or grown. e. Other rights of University. Nothing contained herein shall be construed to limit in any way any rights the University may have under any law, including the Uniform Sales Act, applicable to any transaction covered by these regulations. SECTION 19. ASSIGNMENTS BY SUCCESSFUL BIDDER Contract non-assignable without approval. Because the responsibility of the individual bidder is an essential element of his contract with the University, a person to whom such a contract has been awarded may not assign his interest in the contract, or any funds becoming due to him thereunder, without the prior consent in writing, of the University. SECTION 20. CANCELLATION OF CONTRACT BY THE UNIVERSITY AND COMPENSATION FOR DAMAGES a. Cancellation for breach of contract. In any of the following cases the University shall have the right to cancel any contract entered into under this regulation without prejudice to any other right or remedy the University may have: (1) In the event the successful bidder fails to sign a written contract promptly after submission to him, or to furnish a satisfactory performance bond within the time specified. (2) In the event vendor or contractor fails to make delivery at the place or within the time specified in the contract or ordered by the University.
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