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Title 2 . Administration
Chapter 12 . Public Information
Section 810. Bid, payment, and performance bonds for contracts

2 AAC 12.810. Bid, payment, and performance bonds for contracts

Bid, payment, and performance bonds or other security shall be required for all construction contracts over $100,000, and may be required for contracts as the chief procurement officer, the head of a purchasing agency, or the officer's designee deems advisable to protect the interests of the state. Any such requirements must be set out in the solicitation. Irrevocable letters of credit may be substituted for the required bond at the discretion of the head of the purchasing agency.

History: Eff. 1/1/88, Register 104

Authority: AS 36.30.040

AS 36.30.120

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Last modified 7/05/2006