P.R. Laws tit. 29, § 196
2019-02-20 00:00:00+00
The above-mentioned bond shall be posted by the contractor in cash, certified check or with the security of a bonding company licensed to do business in Puerto Rico, and said payment bond shall answer jointly and severally with the contractor, up to the limit of the bond liability, for the payment to the contractor’s laborers and employees of the wages earned by them in the work. The amount of this payment bond shall not be less than twenty percent (20%) of the estimated cost of the work under construction.
History —June 22, 1961, No. 111, p. 223, § 2; Apr. 25, 1986, No. 15, p. 33, § 1, eff. 30 days after Apr. 25, 1986.