Louisiana Administrative Code
Title 31 - ELECTIONS
Part III - Procurement
Chapter 1 - Procurement of Voting System Drayage and Storage
Section III-115 - Drayage Performance Bond

Universal Citation: LA Admin Code III-115

Current through Register Vol. 50, No. 9, September 20, 2024

A. If specified in the invitation for bids, the bidder awarded the contract must submit a performance bond or letter of credit in the penal sum of one and one-half times the contract price made payable to the Department of State.

B. The performance bond shall be written by a surety or insurance company currently on the U.S. Department of the Treasury Financial Management Service list of approved bonding companies which is published annually in the Federal Register or by a Louisiana domiciled insurance company with at least an A-rating in the latest printing of the A.M. Best's Key Rating Guide.

C. If a contractor fails to perform in accordance with contractual obligations, the contractor forfeits the performance bond.

AUTHORITY NOTE: Promulgated in accordance with R.S. 36:742, R.S. 38:2219, and R.S. 39:1581.

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