If the successful bidder fails to sign the contract or furnish the bonds or policies required by Code Section 32-2-70, the proposal guaranty will become the property of the department as liquidated damages. The contract then may be readvertised or the project may be abandoned.
History. Code 1933, § 95A-812, enacted by Ga. L. 1973, p. 947, § 1.
Structure Georgia Code
Title 32 - Highways, Bridges, and Ferries
Chapter 2 - Department of Transportation
Article 4 - Exercise of Power to Contract
Part 1 - General Contracting Provisions
§ 32-2-60. Authority to Contract; Form and Content of Construction Contracts; Bonds
§ 32-2-61. Limitations on Power to Contract
§ 32-2-63. Authority of Commissioner to Execute Contracts and Authority Lease Agreements
§ 32-2-64. Required Letting of Contracts by Public Bid; Posting Bid on Department Website Sufficient
§ 32-2-65. Advertising for Bids
§ 32-2-66. Prequalifications of Contractors and Subcontractors
§ 32-2-67. Payment by Bidder to Cover Costs
§ 32-2-68. Proposal Guaranty by Bidder
§ 32-2-69. Bidding Process and Award of Contract
§ 32-2-70. Bonds of Successful Bidder
§ 32-2-71. Failure of Successful Bidder to Sign Contract or Furnish Bonds
§ 32-2-72. Oath by Successful Bidder