TITLE 13 CONTRACTS

Section 10. Contracts for Public Works, 13-10-1 through 13-10-91.

ARTICLE 1 GENERAL PROVISIONS

13-10-40. Large public works contracts; requirement for performance bond.

Except as otherwise provided in Title 32, performance bonds shall be required for all state public works construction contracts with an estimated contract amount greater than $100,000.00; provided, however, that the state may require a performance bond for public works construction contracts that are estimated at $100,000.00 or less. No public works construction contract requiring a performance bond shall be valid for any purpose unless the contractor gives such performance bond. The performance bond shall be in the amount of at least the total amount payable by the terms of the contract and shall be increased as the contract amount is increased.

(Code 1981, §13-10-40, enacted by Ga. L. 2001, p. 820, § 1.)