Tennessee § 69-5-705 Bond or deposit of contractor - Return of bid deposit

Tennessee Statutes

§ 69-5-705 — Bond or deposit of contractor - Return of bid deposit

Tennessee § 69-5-705

Title69

This text of Tennessee § 69-5-705 (Bond or deposit of contractor - Return of bid deposit) is published on Counsel Stack Legal Research, covering Tennessee primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tenn. Code Ann. § 69-5-705 (2026).

Text

The successful bidder shall be required to execute a bond, with sufficient corporate surety or personal sureties, payable to the county, for the use and benefit of the district, in an amount equal to twenty-five percent (25%) of the estimated cost of the work so let, or may deposit such amount in cash with the treasurer of the board of directors as security for the performance of the contract, and upon the execution of such bond or the making of such deposit, the deposit originally made with the bid shall be returned to the bidder.

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The successful bidder shall be required to execute a bond, with sufficient corporate surety or personal sureties, payable to the county, for the use and benefit of the district, in an amount equal to twenty-five percent (25%) of the estimated cost of the work so let, or may deposit such amount in cash with the treasurer of the board of directors as security for the performance of the contract, and upon the execution of such bond or the making of such deposit, the deposit originally made with the bid shall be returned to the bidder.