{"data":{"id":"us-tn/tenn.-code-ann.-69-5-704","jurisdiction":"us-tn","citation":"Tenn. Code Ann. § 69-5-704","heading":"Deposits by bidders","body":"Each person bidding for such work shall deposit with the treasurer of the board of directors in cash or certified check a sum equal to ten percent (10%) of the amount of the bid, not in any event, however, to exceed ten thousand dollars ($10,000), or file a solvent bond for that amount conditioned to execute the contract if entered into. The deposit or bond shall be returned to the person if the bid is not successful; if the bid is successful, the deposit or bond shall be retained as a guarantee only of the person's good faith in entering on the contract.","path":["TN Code","Title 69","Chapter 5"],"source_url":"https://oss-data-us.vaquill.ai/v2026.08/us_tn_statutes.parquet","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:26Z","sha256":"735d7747a2684a7374dcf3e5c89ee4eac889334310f1d3254b6869e98f216127","source_id":"us-tn","stale":false,"prev":"us-tn/tenn.-code-ann.-69-5-703","next":"us-tn/tenn.-code-ann.-69-5-705"},"notice":"GroundRules: Original legal text. Not legal advice."}