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

Indiana § 5-30-8-4

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

Text

(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.

Legislative History

As added by P.L.74-2005, SEC.1. Amended by P.L.133-2007, SEC.8.