(a) The design-builder shall submit the bid to the division as required in the invitation for bids.
(b) The design-builder shall furnish a bid bond not to exceed five percent of the maximum cost of the design-build contract.
(c) The selection committee may choose to reject all bids. If the selection committee chooses to accept a bid, the committee shall award the project to the qualified design-builder based on low bid or a value-based selection process combining technical qualifications and competitive bidding elements. The selection committee shall ascertain that the submissions comply with the requirements of this article and the policies and procedures of the commissioner.