Illinois Administrative Code
Title 71 - PUBLIC BUILDINGS, FACILITIES AND REAL PROPERTY
Part 41 - GRANT AGREEMENT PROCEDURES
Section 41.120 - Construction Bonds
Universal Citation: 71 IL Admin Code ยง 41.120
Current through Register Vol. 48, No. 38, September 20, 2024
If the grantee does not have established procedures and contractual provisions requiring construction contractors to provide bonds, CDB may require the grantee to require that its construction contractors obtain a bid bond in the amount of 10% of the bid, a performance bond in the full amount of the bid, and a separate labor and materials payment bond in the full amount of the bid.
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