If required by the department of administrative services, a bid or proposal for a term contract for printing goods and services, including final printed product, shall be accompanied by a bond to the state, in a sum specified in the invitation to bid or request for proposals, executed by the offeror, with either one corporate or two personal sureties, satisfactory to the department, conditioned for the performance of the contract awarded the offeror, and for the payment to the state, by the offeror, as liquidated damages, of any excess of cost over the bid or proposal of such offeror, which the state may be obliged to pay for such printing goods and services by reason of the failure of the offeror to complete the contract. A bid or proposal unaccompanied by such bond shall not be considered, and this bond shall be void if no contract is awarded to the offeror.
Amended by 131st General Assembly File No. TBD, HB 64, §101.01, eff. 9/29/2015.
Effective Date: 10-25-1995