N.D. Admin. Code 4-12-07-05

Current through Supplement No. 394, October, 2024

Section 4-12-07-05 - Payment bonds

1. A payment bond may be required by the purchasing agency for the protection of all persons supplying labor and material to the contractor or its subcontractors for the performance of work provided for in the contract.

2. When a payment bond is required, the bid or proposal must specify the form and amount of the bond, up to one hundred percent of the contract amount.

N.D. Admin Code 4-12-07-05

Effective August 1, 2004.

General Authority: NDCC 54-44.4-04

Law Implemented: NDCC 54-44.4-01, 54-44.4-04