Review bond for timeframes. No special statutory provision.
Step 2: Suit Against Bond
Review bond for timeframes. No special statutory provision.
Bond Bits
Amount of Bond: Generally 100% of the contract price. A bond in double the amount of the contract price is required in connection with contracts for the building or repair of school property
Contracts Excluded: No special statutory provision.
P3 effective 7/7/17: Expands the current law for the Divisions of Highway Construction portion requiring payment bonds for a transportation facility. The division will decide the type and bond amount that is acceptable.