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2740
LAWS OF MARYLAND
[Ch. 566
failure of [said] THE bidder to execute [said] THE
contract and bond. Upon the execution of [said] THE
contract and bond by a successful bidder his check shall
be returned to him. The amount of the check to be
attached to the bid shall be based on the aggregate
amount of the bid submitted and covered by the following
table:
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Aggregate
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Amount
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of Bid
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Amount
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of Check
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Less Than
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to
to
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$ 20,000...
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|
|
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$ 500
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$ 20,000
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50,000...
75,000...
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|
|
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$ 1,000
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50,000
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|
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$ 1,500
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75,000
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to
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125,000..,
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$ 2,000
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125,000
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to
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175,000...
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$ 2,500
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175,000
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to
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225,000...
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$ 3,000
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225,000
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to
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275,000...
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|
|
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$ 4,000
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275,000
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to
to
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325,000...
375,000...
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|
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$ 5,000
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325,000
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$ 6,000
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375,000
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to
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425,000...
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$ 7,000
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425,000
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to
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475,000...
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|
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$ 8,000
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475,000
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to
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525,000...
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$10,000
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525,000
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to
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575,000...
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$12,000
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575,000
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to
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625,000...
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|
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$15,000
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625,000
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to
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675,000...
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$18,000
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675,000
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to
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725,000...
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$22,000
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725,000
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to
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775,000...
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$25,000
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775,000
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to
to
to
to
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825,000...
875,000...
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$30,000
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625,000
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$35,000
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875,000
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925,000...
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$40,000
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925,000
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975,000...
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$45,000
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975,000
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to
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1,000,000...
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$50,000
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(b) To all bids under $1,000,000 there shall be
attached a certified check of the bidder, or a cashier's
or treasurer's check drawn upon a bank, according to the
schedule [above set forth,] IN SUBSECTION (A), or the
bidder may, with the approval of the [State Roads
Commission,] ADMINISTRATION, accompany [said] THE bid by
a bid bond with such surety or sureties, acceptable to
the [Commission,] ADMINISTRATION, in penalties equal to
the respective amounts set forth in the aforegoing
schedule, the obligation of which said bond shall be that
the bidder to whom the contract is awarded shall promptly
and properly execute the contract and furnish bonds for
the completion of the work provided thereunder, as
provided in the specifications.
(c) To all bids over $1,000,000 there shall be
attached a bid bond with such surety or sureties,
acceptable to the Commission, in a penalty equal to five
[per cent. (5%)] PERCENT of the amount of [said] THE bid,
the obligation of which said bond shall be that the
bidder will promptly and properly execute the contract
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