South Carolina Code of Regulations
Chapter 63 - DEPARTMENT OF HIGHWAYS AND PUBLIC TRANSPORTATION
Article 8 - DISADVANTAGED BUSINESS ENTERPRISES PROGRAM
Section 63-708 - Waiver of Bonding
Universal Citation: SC Code Regs 63-708
Current through Register Vol. 48, No. 3, March 22, 2024
A. The Department may waive bonding on set aside contracts with estimated construction costs not exceeding Two Hundred Fifty Thousand and No/100 ($250,000.00) Dollars.
B. Bonding requirements that may be waived include the following:
(1)
On highway construction or bridge construction contracts,
(a) Proposal guaranty or bid bond;
(b) Performance and indemnity bond required
by Section
57-5-1660(a)(1)
of the Code of Laws of South Carolina
(1976), as amended;
(c) Payment
bond required by Section
57-5-1660(a)(2)
of the Code of Laws of South Carolina
(1976), as amended.
(2)
On building construction or building renovation contracts,
(a) Bid security required by Section
11-35-3030 of
the Code of Laws of South Carolina (1976), as amended;
(b) Performance bond required by Section
11-35-3030(2)(i)
of the Code of Laws of South Carolina
(1976), as amended;
(c) Payment
bond required by Section
11-35-3030(2)(ii)
of the Code of Laws of South Carolina
(1976), as amended.
C. The Department shall process claims arising on non-bonded set-aside projects pursuant to Regulation 63-717.
Disclaimer: These regulations may not be the most recent version. South Carolina may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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