Washington Administrative Code
Title 468 - Transportation, Department of (See Title 88)
Chapter 468-320 - Washington state ferry vessel construction, maintenance and repair contracts - Alternate forms of security and determination of bonding amount required
Section 468-320-010 - Marine contract security - General requirements
Current through Register Vol. 24-06, March 15, 2024
(1) As required by chapter 58, Laws of 1989, the bond and/or alternate form(s) of security for a contract for construction, maintenance or repair of a marine vessel by the Washington state department of transportation (hereafter "contract"), shall be in an amount adequate to protect one hundred percent of the state's exposure to loss on such contract. The contractor shall provide either:
(2) Subject to the warranty coverage requirements of WAC 468-320-060 and 468-320-070, such bond and/or alternate form(s) of security shall remain in effect from the date of contract execution until the state has accepted the contract work, the lien claim period has passed, any liens filed under chapter 60.28 RCW have been settled, and all releases from other state of Washington agencies have been received.
Statutory Authority: Chapter 34.05 RCW and 1989 c 58. 89-22-028, § 468-320-010, filed 10/26/89, effective 11/26/89.