The security shall be in an amount equal to at least 10 percent of the amount bid. A bid shall not be considered unless one of the forms of bidder’s security is enclosed with it.
Cal. Pub. Cont. Code § 20171
Cities
Known as the Local Agency Public Construction Act
The act spans §§ 20100 to 20929 (618 sections).
Added by Stats. 1982, Ch. 465, Sec. 11.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.