Georgia § 36-91-51 Cash in lieu of bid bonds; letters of credit

Georgia Statutes

§ 36-91-51 — Cash in lieu of bid bonds; letters of credit

Georgia § 36-91-51

Title36

This text of Georgia § 36-91-51 (Cash in lieu of bid bonds; letters of credit) is published on Counsel Stack Legal Research, covering Georgia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

O.C.G.A. § 36-91-51 (2026).

Text

(a)In lieu of the bid bond provided for in Code Section 36-91-50 , the governmental entity may accept a cashier's check, certified check, or cash in the amount of not less than 5 percent of the total amount payable by the terms of the contract payable to and for the protection of the governmental entity for which the contract is to be awarded.

(b)When the amount of any bid bond required under this article does not exceed $750,000.00, the governmental entity may, in its sole discretion, accept an irrevocable letter of credit issued by a bank or savings and loan association, as defined in Code Section 7-1-4 , in the amount of and in lieu of the bond otherwise required under Code Section 36-91-50 .

Free access — add to your briefcase to read the full text and ask questions with AI

(a) In lieu of the bid bond provided for in Code Section 36-91-50 , the governmental entity may accept a cashier's check, certified check, or cash in the amount of not less than 5 percent of the total amount payable by the terms of the contract payable to and for the protection of the governmental entity for which the contract is to be awarded. (b) When the amount of any bid bond required under this article does not exceed $750,000.00, the governmental entity may, in its sole discretion, accept an irrevocable letter of credit issued by a bank or savings and loan association, as defined in Code Section 7-1-4 , in the amount of and in lieu of the bond otherwise required under Code Section 36-91-50 .

Legislative History

Amended by 2007 Ga. Laws 122,§ 1, eff. 7/1/2007. Former § 36-91-51 was renumbered as § 36-91-71 by 2001 Ga. Laws 261, § 12, eff. 7/1/2001. Renumbered from § 36-91-42 and amended by 2001 Ga. Laws 261, § 12, eff. 7/1/2001.