Prime Contractor: Notice of completion (NOC) - After completion.
Sub and Suppliers, Claim: Notice to the contractor within 120 days of NOC.
Step 2: Suit Against Bond
Within 1 yearof, but not earlier than6 monthsafter, final settlement of the public contract. For highway projects, first-tier subcontractors may not be subject to the 6 monthwaiting period.
Bond Bits
Contracts less then $50,000 are excluded from bond requirements.