Indiana § 36-9-36-23 - Bid bond or deposit
Full text of Indiana Indiana Code § 36-9-36-23 — Bid bond or deposit, with citation guidance and answers to common questions.
§ 36-9-36-23. Bid bond or deposit
Sec. 23. (a) If the works board finally orders an improvement and has advertised for bids, the works board shall require each bidder to deposit with the bidder's bid, at the bidder's option, either a bid bond or a certified check to ensure the execution of the contract.
(b) The bid bond or certified check must be equal to the greater of the following:
(1) An amount not less than two and one-half percent (2 1/2%) of the engineer's estimate of the cost of the improvement.
(2) One hundred dollars ($100).
(c) The following applies if a bidder elects to deposit a bid bond:
(1) The bond must be payable to the works board with sufficient sureties.
(2) The bond must be conditioned upon the bidder's execution of a contract in accordance with the bidder's bid if accepted by the works board.
(3) The bond must provide for forfeiture of the amount of the bond upon the bidder's failure to execute the contract in accordance with the bidder's bid.
(d) The works board shall do the following:
(1) Return all checks and bonds submitted by unsuccessful bidders.
(2) Return a successful bidder's check or bond when the bidder enters into a contract with the works board.
As added by P.L.98-1993, SEC.7.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 36-9-36-23
What does Indiana Code § 36-9-36-23 cover?
Section 36-9-36-23 ("Bid bond or deposit") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 36-9-36-23?
A common citation format is "Indiana Code § 36-9-36-23" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 36-9-36-23 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.