O.C.G.A.
O.C.G.A.

O.C.G.A. § 32-2-71 (2019)

Failure of successful bidder to sign contract or furnish bonds

✓ O.C.G.A. (archive.org 2024 item): print volumes of 2004-2024, per-volume vintage; older volumes partly replaced by 2019 Release 73 text; no 2025 or 2026 Acts
Code text and O.C.G.A. statutory annotations on this page reflect the 2019 Official Code of Georgia Annotated (Public.Resource.Org Release 73, 2019-08-21; public domain per Georgia v. Public.Resource.Org, 2020). The Syfert case-law annotations in Notes of Decisions, below, are current.
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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.

Annotations

JUDICIAL DECISIONS Forfeiture of bid bond. - Contractor’s bid bond was required to be forfeited after the contractor first attempted to withdraw the contractor’s bid after all

bids submitted were opened and then declined to execute the contract awarded to the contractor. DOT v. American Ins. Co., 268 Ga. 505, 491 S.E.2d 328 (1997).