La. Admin. Code tit. 31 § III-113
Current through Register Vol. 50, No. 11, November 20, 2024
Section III-113 - Drayage Bid Guaranty and BondA. If specified in the invitation for bids, a bond, certified check, or money order payable to the Department of State in the amount of 5 percent of the bid must accompany each bid submitted.B. If a bidder withdraws his bid after bid opening, without complying with LAC 31:III.111, or fails to execute a contract within 20 days of request, the bid bond or other security shall be forfeited and deposited into the Department of the Treasury as income not available.La. Admin. Code tit. 31, § III-113
Promulgated by the Department of State, Elections Division, LR 34:700 (April 2008).AUTHORITY NOTE: Promulgated in accordance with R.S. 18:1371, R.S. 36:742, and LAC 34:I.523.