If the successful bidder fails to execute the contract, the bidder’s security shall be forfeited to the state. The cash or proceeds shall be deposited in the fund out of which the expenses of preparation and printing of the plans and specifications, estimates of cost, and publication of notice are paid.
Cal. Pub. Cont. Code § 10781
Award of Contracts
Known as the California State University Contract Law
The act spans §§ 10700 to 11005 (71 sections).
Added by Stats. 1984, Ch. 1128, Sec. 4.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.