§ 24-02-20 — Bids, where opened - Requirements - Bonds or checks of three lowest bidders retained

bidders retained.
1. All bids must be opened at the time and place specified in the advertised request for
bids. The submission of bids and bid openings may be delayed up to twenty-one days

at the discretion of the department. The submission of bids and new bid opening dates
must be noticed by electronic means as prescribed by the department. Each bid must
be accompanied by a certified or cashier's check of the bidder on a solvent bank, in an
amount equal to five percent of the bidder's bid, to be forfeited to the state highway
fund should the bidder fail to effect a contract within ten days after notice of an award
or by a bidder's bond in a sum equal to ten percent of the full amount of the bid,
executed by the bidder as principal and by a surety company authorized to do
business in this state, conditioned that if the principal's bid be accepted and the
contract awarded to the principal, the principal, within ten days after notice of award,
will execute and effect a contract in accordance with the terms of the principal's bid
and a contractor's bond as required by law and the regulations and determinations of
the department.
2. All bonds or checks, except those of the responsible bidders submitting the three
lowest and best bids, must be returned to the bidders promptly upon opening such
bids. The bond or check of the responsible bidder submitting the lowest and best bid
may be cashed or retained until the contract has been awarded and executed properly.
The bonds or checks of the responsible bidders submitting the second and third lowest
and best bids may be returned to the bidders when the department has determined to
whom the contract is to be awarded.