Section R33-11-201 - Bid Security Requirements for Projects(1) Invitations for bids and requests for proposals for construction contracts estimated to exceed $50,000 shall require the submission of bid bond in an amount equal to at least 5% of the bid, at the time the bid is submitted.(2) Invitations for Bids and Requests for Proposals for other procurements may require the submission of a bid security, including specifications for the form and type of bid security, when the procurement official determines it is in the best interest of the procurement unit.(3) If a person fails to include the required bid security, the bid shall be deemed nonresponsive and ineligible for consideration of award except as provided by Sections R33-6-108, R33-6-109 or R33-11-202.(4) The procurement official may require an acceptable bid security on projects that are for amounts less than the standard amount set forth in Subsection R33-11-201(1).Utah Admin. Code R33-11-201
Amended by Utah State Bulletin Number 2017-14, effective 6/21/2017Amended by Utah State Bulletin Number 2021-03, effective 1/22/2021