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All bids for construction work shall be presented under sealed cover and shall be accompanied by one of the following forms of bidder's security:
(b) A cashier's check made payable to the board.
(c) A certified check made payable to the board.
(d) A bidder's bond executed by an admitted surety insurer, made payable to the board.
Upon an award to the lowest bidder, the security of an unsuccessful bidder shall be returned in a reasonable period of time, but in no event shall that security be held by the board beyond 60 days from the time the award is made.
Cite this article: FindLaw.com - California Code, Public Contract Code - PCC § 20342 - last updated January 01, 2019 | https://codes.findlaw.com/ca/public-contract-code/pcc-sect-20342/
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