Bid Security. — Guam Code § 5303
Guam Code § 5303 — Bid Security.. Reproduced from the official Guam Code Annotated, with a citation summary, verification link, and related provisions.
§ 5303. Bid Security.
(a) Requirement for Bid Security. Bid security shall be required for all competitive sealed bidding for
construction contracts when the price is estimated by the Procurement Officer to exceed Twenty-Five
Thousand Dollars ($25,000). Bid security shall be a bond provided by a surety company authorized to do
business in Guam, or the equivalent in cash, or otherwise supplied in a form satisfactory to Guam. Nothing
herein prevents the requirement of such bonds on construction contracts under Twenty-Five Thousand
Dollars ($25,000) when the circumstances warrant.
(b) Amount of Bid Security. Bid security shall be in an amount equal to at least fifteen percent (15%)
of the amount of the bid.
(c) Rejection of Bids for Noncompliance with Bid Security Requirements. When the invitation for
bids requires security, noncompliance requires that the bid be rejected unless, pursuant to Policy Office
regulations, it is determined that the bid fails to comply in a non-substantial manner with the security
requirements.
(d) Withdrawal of Bids. After the bids are opened, they shall be irrevocable for the period specified in
the invitation for bids, except as provided in 5211(f) of this Chapter. If a bidder is permitted to withdraw
its bid before award, no action shall be had against the bidder or the bid security.
Source: official Guam text · Last verified 2026-08-27
At a glance
- Citation: Guam Code Annotated § 5303
- Jurisdiction: Guam
- Code: Guam Code Annotated
- Subject: Bid Security.
- Text: transcribed from the official source (verify below)
Verify the text
Statute text is transcribed from the official Guam Code Annotated. Confirm it against the primary source before relying on it:
Not legal advice. Verify against the official source and consult a licensed Guam attorney.
Common questions
What is the source of Guam Code Annotated § 5303?
The text above is transcribed from the Guam Code Annotated, the codified statutes of Guam. The official publisher link appears under "Verify the text" on this page.
What subject does Guam Code Annotated § 5303 address?
It addresses "Bid Security.". Read the section together with the surrounding provisions listed under "Nearby provisions" for the full picture.
Is Guam Code Annotated § 5303 still in force?
Statutes are amended, repealed, and renumbered every session. Confirm the current version at the official Guam source before relying on this text.
Can this page be used as legal advice?
No. This is a reference transcription for research. Applying Guam law to your facts requires a licensed Guam attorney who can review the specifics.