South Dakota Codified Laws 5-18B-32. Deposit or bond submitted with proposal–Forfeiture
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Any proposal, submitted pursuant to this section, shall be accompanied by a deposit or bond meeting the requirements of § 5-18B-2. The deposit or security may be forfeited if the proposal is accepted but the design-builder fails to execute the design-build contract.
Terms Used In South Dakota Codified Laws 5-18B-32
- Contract: A legal written agreement that becomes binding when signed.
Source: SL 2010, ch 31, § 71.