South Dakota § 5-18A-35 Bond or approved security.

South Dakota Statutes

§ 5-18A-35 — Bond or approved security.

South Dakota·Title 5 PUBLIC PROPERTY, PURCHASES AND CONTRACTS·Ch. 5-18 PUBLIC AGENCY PROCUREMENT--GENERAL PROVISIONS

In the procurement of supplies or services, a purchasing agency may require a bond or an approved security to be submitted with any bid or proposal as a guarantee that the bidder will enter into a contract with the purchasing agency. No offeror or bidder may be required to leave the bond or security posted for a longer period than that allowed by § 5-18A-5 if the bid or proposal is not accepted. The bond or approved security of the successful offeror or bidder shall be returned upon the signing of the contract.

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In the procurement of supplies or services, a purchasing agency may require a bond or an approved security to be submitted with any bid or proposal as a guarantee that the bidder will enter into a contract with the purchasing agency. No offeror or bidder may be required to leave the bond or security posted for a longer period than that allowed by § 5-18A-5 if the bid or proposal is not accepted. The bond or approved security of the successful offeror or bidder shall be returned upon the signing of the contract.

South Dakota § 5-18A-35 (Bond or approved security.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.