Effective 5/12/2020 63G-6a-1102. Bid security requirements — Directed suretyship prohibited — Penalty. (1) Bid security in an amount equal to at least 5% of the amount of the bid shall be required for all competitive bidding for construction contracts. Bid security shall be a bond provided by a surety company authorized to do business in […]
Effective 5/12/2020 63G-6a-1103. Bonds or security necessary when contract is awarded — Waiver — Action — Attorney fees. (1) When a construction contract is awarded under this chapter, the contractor to whom the contract is awarded shall deliver the following bonds or security to the procurement unit, which shall become binding on the parties upon […]
63G-6a-1104. Preliminary notice requirement. (1) Any person furnishing labor, service, equipment, or material for which a payment bond claim may be made under this chapter shall provide preliminary notice to the designated agent as prescribed by Section 38-1b-202, except that this section does not apply: (a) to an individual performing labor for wages; or (b) […]
Effective 5/12/2020 63G-6a-1105. Form of bonds — Effect of certified copy. (1) The form of the bonds required by this part shall be established by rule made by the rulemaking authority. (2) Any person may obtain from the procurement unit a certified copy of a bond upon payment of the cost of reproduction of the […]
