Wisconsin Administrative Code
Department of Administration
Chapter Adm 7 - Solicitation of bids and proposals
Section Adm 7.08 - Bonds and sureties
Universal Citation: WI Admin Code ยง Adm 7.08
Current through February 26, 2024
(1) REQUIREMENTS. The department may require under any of the conditions listed below, bonds or sureties in order to secure performance of the bid contract. Sureties may be in the form of certified or cashier's checks, cash, irrevocable letters of credit, bonds or other equivalent sureties. Bonding or insurance companies issuing bonds shall be authorized by the commissioner of insurance to do business in this state.
(a) A bid surety may be required when failure
to sign a contract may result in serious harm to the agency.
(b) A payment surety may be required to
ensure payment to subcontractors.
(c) A performance surety may be required when
failure to perform the contract on the part of the contractor will result in
damages to the program, agency, state, or award.
(2) APPLICATION. If sureties are required on a bid or award, the requirement shall be applied to all bidders and contractors on that bid.
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