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Step 1: Bond Claim
No notice is necessary when contracting with the prime (principal).
Others: Written notice to the prime contractor Within
65 days
of last furnishing.
Step 2: Suit Against Bond
Contracting with the Prime (Principal): After
65 days
but within
1 year
of last furnishing material labor or services.
Others: Within
1 year
of last furnishing material, labor or services.
Bond Bits
Contracts less than $25,000 are excluded from bond requirements.
Amount of Bond: Not less than 50% of total contract price.