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Bid or proposal security - 62 Pa. Cons. Stat. § 902

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     § 902.  Bid or proposal security.
        (a)  Requirement for bid or proposal security.--Bidders or
     offerors may be required to provide bid or proposal security for
     construction contracts. Bid or proposal security shall be in the
     form of a certified or bank check or a bond provided by a surety
     company authorized to do business in this Commonwealth or
     another form of security as specified in the invitation for bids
     or request for proposals.
        (b)  Amount of bid or proposal security.--Bid or proposal
     security shall be at least in the minimum amount or percentage
     of the amount of the bid or proposal as shall be specified in
     the advertisement, the invitation for bids or the request for
     proposals.
        (c)  Rejection of bids or proposals.--When the invitation for
     bids or the request for proposals requires security,
     noncompliance with the instructions in the invitation for bids
     or the request for proposals requires that the bid or proposal
     be rejected unless it is determined that the bid or proposal
     fails to comply with the security requirements in a
     nonsubstantial manner.
        (d)  Withdrawal of bids and proposals.--After the bids or
     proposals are opened, they shall be irrevocable for the period
     specified in the invitation or requests for proposals for bids
     except as provided in section 512(f) (relating to competitive
     sealed bidding). If a bidder or offeror is permitted to withdraw
     its bid or proposal before award, no action shall be had against
     the bidder or offeror or the bid or proposal security.
     (Dec. 3, 2002, P.L.1147, No.142, eff. imd.)

        2002 Amendment.  Act 142 amended subsecs. (a), (b) and (d).
        Cross References.  Section 902 is referred to in section 533
     of this title.

Last modified: November 27, 2007