There is a newer version of the Georgia Code
2010 Georgia Code
TITLE 32 - HIGHWAYS, BRIDGES, AND FERRIES
CHAPTER 2 - DEPARTMENT OF TRANSPORTATION
ARTICLE 4 - EXERCISE OF POWER TO CONTRACT GENERALLY
§ 32-2-71 - Failure of successful bidder to sign contract or furnish bonds
O.C.G.A. 32-2-71 (2010)32-2-71. Failure of successful bidder to sign contract or furnish bonds
If the successful bidder fails to sign the contract or furnish the bonds or policies required by Code Section 32-2-70, the proposal guaranty will become the property of the department as liquidated damages. The contract then may be readvertised or the project may be abandoned.
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