South Dakota § 5-18A-36 Performance and payment bond or approved security.

South Dakota Statutes

§ 5-18A-36 — Performance and payment bond or approved security.

South Dakota·Title 5 PUBLIC PROPERTY, PURCHASES AND CONTRACTS·Ch. 5-18 PUBLIC AGENCY PROCUREMENT--GENERAL PROVISIONS

For any public improvement contract, a performance and payment bond is required pursuant to chapter 5-21 . For any other contract, a purchasing agency may require a bond or an approved security to be provided by the successful offeror or bidder as a guarantee of faithful performance of the contract. In any case, the bond or approved security of the successful offeror or bidder shall be returned upon satisfactory completion of the contract.

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For any public improvement contract, a performance and payment bond is required pursuant to chapter 5-21 . For any other contract, a purchasing agency may require a bond or an approved security to be provided by the successful offeror or bidder as a guarantee of faithful performance of the contract. In any case, the bond or approved security of the successful offeror or bidder shall be returned upon satisfactory completion of the contract.

South Dakota § 5-18A-36 (Performance and payment bond or approved security.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.