Iowa § 26.8 - 26.8 Bid security.
Full text of Iowa Iowa Code § 26.8 — 26.8 Bid security., with citation guidance and answers to common questions.
§ 26.8. 26.8 Bid security.
1. Each bidder shall accompany its bid with a bid security as security that the successful bidder will enter into a contract for the work bid upon and will furnish after the award of contract a corporate surety bond, acceptable to the governmental entity, for the faithful performance of the contract, in an amount equal to one hundred percent of the amount of the contract. The bid security shall be in an amount fixed by the governmental entity, and shall be in the form of a cashier’s check or certified check drawn on a state-chartered or federally chartered bank, or a certified share draft drawn on a state-chartered or federally chartered credit union, or the governmental entity may provide for a bidder’s bond with corporate surety satisfactory to the governmental entity. The bidder’s bond shall contain no conditions except as provided in this section. 2. The governmental entity shall fix the amount of bid security prior to ordering publication of the notice to bidders and such amount must equal at least five percent, but shall not exceed ten percent, of either the estimated total contract cost of the public improvement or the amount of each bid. 2006 Acts, ch 1017, §8, 42, 43; 2007 Acts, ch 144, §5 Referred to in §26.3, 26.7, 314.1 Wed Dec 10 22:14:28 2025 Iowa Code 2026, Section 26.8 (17, 0)
Frequently Asked Questions About Iowa § 26.8
What does Iowa Code § 26.8 cover?
Section 26.8 ("26.8 Bid security.") is part of the Iowa Code, the codified statutory law of Iowa. 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 Iowa § 26.8?
A common citation format is "Iowa Code § 26.8" (Iowa). 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 Iowa law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Iowa official source linked on this page or consult a licensed Iowa attorney.
How does Iowa § 26.8 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Iowa 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 Iowa.