Each bid must be accompanied by a deposit in the amount specified in the public notice. The deposit of any successful bidder will be retained as security for the performance of his obligation and will be applied toward payment of the bonds. All other deposits will be returned immediately. No interest will be allowed on account of any deposits.
authority: Sec. 8, 50 Stat. 481, as amended; R.S. 3706; secs. 1, 4, 18, 5, 40 Stat. 288, as amended, 290, as amended, 1309, as amended, 290, as amended; secs. 19, 20, 48 Stat. 343, as amended;
31 U.S.C. 738a,
739,
752,
752a,
753,
754,
754a,
754b
source: 27 FR 12481, Dec. 18, 1962, unless otherwise noted.
cite as: 31 CFR 340.7