Indiana § 5-30-8-4 Performance and payment bonds required

Indiana Statutes

§ 5-30-8-4 — Performance and payment bonds required

Indiana·Title 5 STATE AND LOCAL ADMINISTRATION·Art. 30 DESIGN-BUILD PUBLIC WORKS PROJECTS·Ch. 8 Miscellaneous Provisions

(a)The public agency:

(1)shall require the design-builder to furnish performance and payment bonds for the project if the estimated cost of the project is more than two hundred thousand dollars ($200,000); and

(2)may require the design-builder to furnish performance and payment bonds for the project if the estimated cost of the project is not more than two hundred thousand dollars ($200,000).

(b)A performance or payment bond is not required for, and does not provide coverage for, the part of a design-build contract that includes design services only.

(c)Subsection (b) does not impair the ability of the public agency to seek recovery under the contract from the design-builder for errors, omissions, or defects in the design services.

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(a) The public agency:
(1) shall require the design-builder to furnish performance and
payment bonds for the project if the estimated cost of the project
is more than two hundred thousand dollars ($200,000); and
(2) may require the design-builder to furnish performance and
payment bonds for the project if the estimated cost of the project
is not more than two hundred thousand dollars ($200,000).
(b) A performance or payment bond is not required for, and does not
provide coverage for, the part of a design-build contract that includes
design services only.
(c) Subsection (b) does not impair the ability of the public agency
to seek recovery under the contract from the design-builder for errors,
omissions, or defects in the design services.

Indiana § 5-30-8-4 (Performance and payment bonds required) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.