North Dakota Administrative Code
Title 4 - Management and Budget, Office of
Article 4-12 - State Procurement Practices
Chapter 4-12-07 - Managing Contractual Risk
Section 4-12-07-05 - Payment bonds
Universal Citation: ND Admin Code ยง 4-12-07-05
Current through Supplement No. 394, October, 2024
1. A payment bond may be required by the purchasing agency for the protection of all persons supplying labor and material to the contractor or its subcontractors for the performance of work provided for in the contract.
2. When a payment bond is required, the bid or proposal must specify the form and amount of the bond, up to one hundred percent of the contract amount.
General Authority: NDCC 54-44.4-04
Law Implemented: NDCC 54-44.4-01, 54-44.4-04
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