Statutes > Georgia Statutes > TITLE 32 - HIGHWAYS, BRIDGES, AND FERRIES > CHAPTER 2 - DEPARTMENT OF TRANSPORTATION > ARTICLE 4 - EXERCISE OF POWER TO CONTRACT GENERALLY > § 32-2-71 - Failure of successful bidder to sign contract or furnish bonds

§ 32-2-71 - Failure of successful bidder to sign contract or furnish bonds

O.C.G.A. 32-2-71 (2010)
32-2-71. Failure of successful bidder to sign contract or furnish bonds


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.