Kentucky Administrative Regulations
Title 200 - FINANCE AND ADMINISTRATION CABINET
Chapter 5 - Purchasing
Section 200 KAR 5:305 - Performance bonds; forms; payments
Current through Register Vol. 50, No. 9, March 1, 2024
RELATES TO: KRS 45A.190, 45A.195
NECESSITY, FUNCTION, AND CONFORMITY: KRS 45A.035 authorizes the Secretary of the Finance and Administration Cabinet to promulgate administrative regulations for the implementation of the Kentucky Model Procurement Code (KRS Chapter 45A). KRS 45A.195(1) requires the secretary to promulgate administrative regulations establishing the form of the bonds required by KRS 45A.180 to 45A.200. This administrative regulation implements the provisions of KRS 45A.190 and 45A.195.
Section 1. A contract shall not be awarded to a contractor who fails or refuses to give bond to the Commonwealth if required as provided by KRS 45A.190.
Section 2. A contractor may be declared in default of a contract with the Commonwealth of Kentucky, and bond forfeited, if it is determined by the purchasing official that the contractor is in breach of the terms and conditions of the contract, including, in contracts for construction services, failure to make timely payment of bills for labor, materials and supplies as evidenced by liens filed against the construction fund by laborers and suppliers pursuant to KRS 376.195 to 376.260, or by letters of indebtedness filed with the purchasing agency evidencing that these bills are due and have not been paid by the contractor.
Section 3.
STATUTORY AUTHORITY: KRS 45A.035, 45A.195