Section 12-3-2.1-0-00100-2-2.08 - BID SECURITYThe Bid Security shall be in the form of a Bid Bond, or a Certified Check: (modified Dec 2013 SoS) (see also 4.07 herein, 600.42, 600.57.9, 00600, 00650)
A. Bid Bond: The Bidder may submit a Bid Bond by a Surety licensed in Mississippi in the amount of five percent (5¢) of the base bid. The Bid Bond shall be duly executed by the Bidder, a Mississippi Licensed Agent for said Surety approved by the Mississippi Insurance Department OR signed by the Surety AND countersigned by a Mississippi Licensed Agent for said Surety approved by the Mississippi Insurance Department. http://www.mid.state.ms.us/licapp/search_main.aspx (No standard form is required for the Bid Bond.)B. Certified Check: The Bidder may submit a certified check made out to the Bureau of Building, Grounds and Real Property Management in the amount of five percent (5¢) of the base bid. All checks received from Bidders will be returned upon request, unless a Bidder is one (1) of the three (3) apparent low Bidders. The three (3) apparent low Bidder's checks will be held for forty-five (45) days, unless a Contract is awarded and executed in less time.12 Miss. Code. R. 3-2.1-0-00100-2-2.08