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Code of Federal Regulations (Last Updated: May 6, 2024) |
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Title 41 - Public Contracts and Property Management |
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Subtitle C - Federal Property Management Regulations System |
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Chapter 102 - Federal Management Regulation |
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SubChapter B - Personal Property |
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Part 102-38 - Sale of Personal Property |
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Subpart C - Bids |
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Bid Deposits |
§ 102-38.230 - Is a bid deposit required to buy personal property?
Latest version.
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§ 102-38.230 Is a bid deposit required to buy personal property?
No, a bid deposit is not required to buy personal property. However, should you require a bid deposit to protect the Government's interest, a deposit of 20 percent of the total amount of the bid is generally considered reasonable.