Utah Admin. Code R850-11-900 - Bonding for Construction Services
1. For construction services costing $50,000
or higher, the agency shall require the chosen provider to deliver to the
agency a performance bond and a payment bond in amounts equal to 100% of the
price specified in the contract and executed by a surety company authorized to
do business in this state or in any other form satisfactory to the agency;
2. For construction services
costing less than $50,000, the agency may require a performance bond and a
payment bond as described in
R850-11-700(1)
if it determines that requiring such bonds is in the best interests of the
trust.
Notes
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