Cal. Pub. Contract Code § 20305

Current through the 2024 Legislative Session.

Section 20305 - Bidder's security

All bids for construction work shall be presented under sealed cover and shall be accompanied by one of the following forms of bidder's security:

(a) Cash.

(b) A cashier's check made payable to the authority.

(c) A certified check made payable to the authority.

(d) A bidder's bond executed by an admitted surety insurer, made payable to the authority.

Upon an award to the lowest bidder, the security of an unsuccessful bidder shall be returned in a reasonable period of time, but in no event shall that security be held by the authority beyond 60 days from the time the award is made.

Ca. Pub. Cont. Code § 20305

Added by renumbering Section 20302 by Stats. 1996, Ch. 685, Sec. 3. Effective January 1, 1997.