41 C.F.R. § 102-38.240 What happens to the deposit bond if the bidder defaults or wants to withdraw his/her bid?
Title 41 - Public Contracts and Property Management
(a) When a bid deposit is secured by a deposit bond and the bidder defaults, you must issue a notice of default to the bidder and the surety company. (b) When a bid deposit is secured by a deposit bond and the bidder wants to withdraw his/her bid, you should return the deposit bond to the bidder.
Title 41: Public Contracts and Property Management
PART 102–38—SALE OF PERSONAL PROPERTY
Subpart C—Bids
Bid Deposits
§ 102-38.240 What happens to the deposit bond if the bidder defaults or wants to withdraw his/her bid?
