If the successful bidder fails to sign the contract or furnish the bonds required under authority of Code Section 32-4-119, his proposal guaranty, if one had been required by the municipality, will become the property of the municipality as liquidated damages. The contract then may be readvertised, or the project may be abandoned.
Section: Previous 32-4-110 32-4-111 32-4-112 32-4-113 32-4-114 32-4-115 32-4-116 32-4-117 32-4-118 32-4-119 32-4-120 32-4-121 32-4-122 32-4-123 NextLast modified: October 14, 2016