The bidder’s security of the second and third lowest responsible bidders may be withheld until the contract has been finally executed. The cash, cashier’s checks, and certified checks submitted by all other unsuccessful bidders shall be returned to them within 10 days after the contract is awarded, and their bidders’ bonds shall be of no further effect.
Cal. Pub. Cont. Code § 10784
Award of Contracts
Known as the California State University Contract Law
The act spans §§ 10700–11005 (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.