Georgia Statutes
§ 32-2-71 — Failure of successful bidder to sign contract or furnish bonds
Georgia·Title 32
If the successful bidder fails to sign the contract or furnish the bonds or policies required by Code Section 32-2-70 , the proposal guaranty will become the property of the department as liquidated damages. The contract then may be readvertised or the project may be abandoned.
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Nearby Sections
15
§ 32-1-1
Short title§ 32-1-10
Penalty§ 32-1-11
Construction of title§ 32-1-2
Purpose and legislative intent§ 32-1-3
Definitions§ 32-10-1
Definitions§ 32-10-100
Trust indenture as security for bonds§ 32-10-101
Payment of bond proceeds to trustee