Texas Government Code 2156.004 – Bid Deposit
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(a) The comptroller, as considered necessary, may require a bid deposit in an amount determined by the comptroller. The amount of the deposit, if any, must be stated in the public notice and the invitation to bid.
(b) On the award of a bid or the rejection of all bids, the comptroller shall refund the bid deposit of an unsuccessful bidder.
Terms Used In Texas Government Code 2156.004
- Comptroller: means the state comptroller of public accounts. See Texas Government Code 312.011
(c) The comptroller may accept from a bidder a bid deposit in the form of a blanket bond.