Section 2.12.810. Bid, payment, and performance bonds for contracts.

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Bid, payment, and performance bonds or other security shall be required for all construction contracts over $100,000, and may be required for contracts as the chief procurement officer, the head of a purchasing agency, or the officer's designee deems advisable to protect the interests of the state. Any such requirements must be set out in the solicitation. Irrevocable letters of credit may be substituted for the required bond at the discretion of the head of the purchasing agency.

Authorities

36.30.040;36.30.120

Notes

Reference

15 AAC 112.260

Authority
 AS 36.30.040  
AS 36.30.120  
History Eff. 1/1/88, Register 104

                    
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