California Public Contract Code 10181 – If the successful bidder fails to execute the contract, his bidder’s …
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If the successful bidder fails to execute the contract, his bidder’s security shall be forfeited to the state. The cash or proceeds shall be deposited in the fund out of which the expenses of preparation and printing of the plans and specifications, estimates of cost, and publication of notice are paid.
(Enacted by Stats. 1981, Ch. 306.)
Terms Used In California Public Contract Code 10181
- Contract: A legal written agreement that becomes binding when signed.