Bond of bidder

§ 6418. Bond of bidder (a) Every bid for transporting the mail shall be accompanied by the bond of the bidder in the sum designated by the Postmaster General in the advertisement. (b) The bond required by this section shall contain a condition that if the bidder, within such time after his bid is accepted as the Postmaster General prescribes, enters into a contract with the United States of America with good and sufficient sureties to be approved by the Postmaster General to perform the service proposed in his bid, and further if he performs the service according to his contract, then the said obligation on the bond is void, otherwise it remains in full force and obligation in law. (c) If a bidder fails to enter into the prescribed contract or if after executing a contract fails to perform the service in accordance with his contract, he and his sureties are liable for the amount of the bond as liquidated damages to be recovered in a civil action. (d) The Postmaster General may not consider a bid unless it is accompanied by the bond required by this section, and there is affixed to it the signed statement of the bidder that he has the pecuniary ability to fulfill his obligations, and that the bid is made in good faith with the intention to enter into a contract and perform the service if the bid is accepted.