§ 36-91-51. Cash in Lieu of Bid Bonds; Letters of Credit
In lieu of the bid bond provided for in Code Section 36-91-50, the governmental entity may accept a cashier’s check, certified check, or cash in the amount of not less than 5 percent of the total amount payable by the terms of the contract payable to and for the protection of the governmental entity for […]
§ 36-91-52. Bid and Bidder Defined; Withdrawal of Bids for Appreciable Errors; Resubmission
As used in this Code section, the term “bid” includes proposal and the term “bidder” includes offeror. Any governmental entity receiving bids subject to this article shall permit a bidder to withdraw a bid from consideration after the bid opening without forfeiture of the bid security if the bidder has made an appreciable error in […]
§ 36-91-53. Affiliated Corporation Defined; Forfeit of Security by Affiliated Corporation
As used in this Code section, the term: “Affiliated corporation” means, with respect to any corporation, any other corporation related thereto: As a parent corporation; As a subsidiary corporation; As a sister corporation; By common ownership or control; or By control of one corporation by the other. The term “bid” includes proposals. In any case […]
§ 36-91-54. Action on Breach of Bond
The obligee in any bid bond required to be given in accordance with this article shall be entitled to maintain an action thereon at any time upon any breach of such bond; provided, however, that no action may be instituted on the bonds or security deposits after one year from the completion of the contract […]
§ 36-91-70. Requirement of Performance Bonds
Performance bonds shall be required for all public works construction contracts subject to the requirements of this chapter with an estimated contract amount greater than $100,000.00; provided, however, that a governmental entity may require a performance bond for public works construction contracts that are estimated at $100,000.00 or less. No public works construction contract requiring […]
§ 36-91-71. Acceptable Substitutes for Bond
When the amount of the performance bond required under this article does not exceed $750,000.00, the governmental entity may, in its sole discretion, accept an irrevocable letter of credit by a bank or savings and loan association, as defined in Code Section 7-1-4, in the amount of and in lieu of the bond otherwise required […]
§ 36-91-72. Action on Performance Bond
The obligee in any performance bond required to be given in accordance with this article shall be entitled to maintain an action thereon at any time upon any breach of such bond; provided, however, no action can be instituted on the bonds or security deposits after one year from the completion of the contract and […]
§ 36-91-90. Requirement for Payment Bonds
Payment bonds shall be required for all public works construction contracts subject to the requirements of this chapter with an estimated contract amount greater than $100,000.00; provided, however, that a governmental entity may require a payment bond for public works construction contracts that are estimated at $100,000.00 or less. No public works construction contract requiring […]
§ 36-91-91. Liability of Contracting Party to Subcontractors for Noncompliance
If a payment bond or security deposit is not taken in the manner and form required in this article, the corporation or body for which work is done under the contract shall be liable to all subcontractors and to all persons furnishing labor, skill, tools, machinery, or materials to the contractor or subcontractor thereunder for […]
§ 36-91-92. Notice of Commencement
The contractor furnishing the payment bond or security deposit shall post on the public works construction site and file with the clerk of the superior court in the county in which the site is located a notice of commencement no later than 15 days after the contractor physically commences work on the project and supply […]