If any firm entering into a contract under the authority of this chapter neglects or refuses to perform or fails to comply with the terms thereof, the agency which signed the contract may terminate the contract and proceed to award a new contract in accordance with this chapter or may require the surety on the performance bond to complete the contract in accordance with the terms of the performance bond.

29 Del. C. 1953, § ?6906; 54 Del. Laws, c. 106, § ?2; 70 Del. Laws, c. 601, § ?4;