§ 36-91-41. No Bid Bond Required Under Certain Circumstances
When a governmental entity invites competitive sealed proposals for a public works construction project and the request for proposals for such project states that price or project cost will not be a selection or evaluation factor, no bid bond shall be required unless the governmental entity provides for a bid bond in the request for […]
§ 36-91-42. Acceptance of Electronic Signatures and Corporate Seals
Public procurement officers shall accept electronic signatures and electronic corporate seals on bonds issued pursuant to this part so long as such signatures and seals comply with the provisions of Chapter 12 of Title 10 and Code Section 33-24-14. History. Code 1981, § 36-91-42 , enacted by Ga. L. 2021, p. 459, § 3-1/SB 169. […]
§ 36-91-50. Projects Requiring Bid Bonds; Revocation of Bids; Surety
Bid bonds shall be required for all public works construction contracts subject to the requirements of this article with estimated bids or proposals over $100,000.00; provided, however, that a governmental entity may require a bid bond for projects with estimated bids or proposals of $100,000.00 or less. In the case of competitive sealed bids, except […]
§ 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 […]