Sec. 223.016. FORM OF PROPOSAL GUARANTY. If the department by rule requires a proposal guaranty as a condition of bidding for a contract, the guaranty may be in the form of:
(1) a cashier's check or money order drawn on a financial entity specified by the department; or
(2) a bid bond issued by a surety authorized to do business in this state; or
(3) any other method determined to be suitable by the department.
Added by Acts 2001, 77th Leg., ch. 833, Sec. 1, eff. Jan. 1, 2002. Renumbered from Transportation Code Sec. 223.014 by Acts 2003, 78th Leg., ch. 1275, Sec. 2(126), eff. Sept. 1, 2003.
Structure Texas Statutes
Subtitle B - State Highway System
Chapter 223 - Bids and Contracts for Highway Projects
Subchapter A. Competitive Bids
Section 223.001. Contract Requiring Competitive Bids
Section 223.002. Notice of Bids
Section 223.003. Notice of Proposed Contracts
Section 223.004. Filing, Opening, and Rejection of Bids
Section 223.0041. Award of Contracts
Section 223.0042. Contract Information on Internet Website
Section 223.005. Bids on Contracts Involving Less Than $300,000
Section 223.006. Contractor's Bond
Section 223.008. No Liability in Excess of Available Funds
Section 223.009. Partial Payment
Section 223.010. Deposit and Investment of Retained Amount
Section 223.012. Contractor Performance
Section 223.013. Electronic Bidding System