Current through Pa Acts 2024-53, 2024-56 through 2024-127
Section 9605 - Bonding and progress payments(a) Bonding .--Notwithstanding 62 Pa.C.S. Pt. I (relating to Commonwealth Procurement Code): (1) Except as provided in paragraph (2), a purchasing agency may reduce the level or change the types of bonding normally required or accept alternative forms of security to the extent reasonably necessary to encourage procurement from veteran-owned small businesses and service-disabled veteran- owned small businesses.(2) For contracts under $25,000, veteran-owned small businesses and service-disabled veteran-owned small businesses shall be exempt from any bonding requirements.(b) Progress payments.--A purchasing agency may make special provisions for progress payments as it deems reasonably necessary to encourage procurement from veteran-owned small businesses and service-disabled veteran-owned small businesses.Added by P.L. 1468 2012 No. 185, § 1, eff. 12/23/2012.