Cal. Pub. Contract Code § 20355.5

Current through the 2024 Legislative Session.

Section 20355.5 - 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 district.

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

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

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 district beyond 60 days from the time the award is made.

Ca. Pub. Cont. Code § 20355.5

Added by Stats 2002 ch 341 (AB 2224), s 3, eff. 1/1/2003.