(A) When deemed necessary, bid deposits may be required, the deposit shall be in such amount as the City Manager shall determine and unsuccessful bidders shall be entitled a return of the deposits where such has been required.
(B) A successful bidder shall forfeit any required deposit upon failure on his or her part to enter a contract within five days after the award.
(1994 Code, § 5-408) (Ord. 404, passed 9-9-1985; Ord. 457, passed 10-4-1990; Ord. 775, passed 6-22-2015)