Official Code of Georgia Annotated

Title 13. CONTRACTS · Chapter 10. CONTRACTS FOR PUBLIC WORKS · Article 1. GENERAL PROVISIONS · Part 2. Bid Bonds

13-10-21. Alternatives to bid bond.

Active

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

(a)
In lieu of the bid bond provided for in Code Section 13-10-20, the state may accept a cashier’s check, certified check, or cash in the amount of not less than 5 percent of the total amount payable by the terms of the contract payable to and for the protection of the state.#
(b)
When the amount of any bid bond required under this article does not exceed $300,000.00, the state may, in its sole discretion, accept an irrevocable letter of credit issued by a bank or savings and loan association, as defined in Code Section 7-1-4, in the amount of and in lieu of the bond otherwise required under Code Section 13-10-20.#

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

History

Code 1981, § 13-10-21, enacted by Ga. L. 2001, p. 820, § 1.

Editor's notes

Ga. L. 2001, p. 820, § 1, effective July 1, 2001, redesignated former Code Section 13-10-21 as present Code Section 13-10-82.

Read the official page (the state's PDF, opened at the page this text was read from).

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Text read from t13-(v11)-2010-pdf.pdf, Volume V11, 2010 edition, page 608; merge action: carried; file SHA-256 18573afb153d.

Ask about this section

The answer is drawn from this section and, when they fit, the other sections of its chapter. It quotes the text and names the section for each claim. Not legal advice.