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O.C.G.A. § 13-10-21 — Alternatives to bid bond | Georgia Code
O.C.G.A. § 13-10-21 (2018) Copy Cite Official Site Syfertize CourtListener Scholar Amendments

TITLE 13 CONTRACTS

Section 10. Contracts for Public Works, 13-10-1 through 13-10-91.

ARTICLE 1 GENERAL PROVISIONS

13-10-21. Alternatives to bid bond.

  1. 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.
  2. 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.

(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.

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This Georgia Code resource is curated by Graham W. Syfert, Esq., a personal injury and workers' compensation attorney admitted in Georgia (State Bar of Georgia No. 881027, since 2006) and Florida. For legal consultation, call 904-383-7448.