Virginia § 2.2-4340 Action on performance bond

Virginia Statutes

§ 2.2-4340 — Action on performance bond

Virginia § 2.2-4340

JurisdictionVirginia

Title 2.2Administration of Government

Subtitle IIAdministration of State Government

Ch. 43Virginia Public Procurement Act

Art. 2Contract Formation and Administration

Part BTransaction of Public Business

This text of Virginia § 2.2-4340 (Action on performance bond) is published on Counsel Stack Legal Research, covering Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Va. Code Ann. § 2.2-4340 (2026).

Text

No action against the surety on a performance bond shall be brought unless within five years after completion of the contract. For the purposes of this section, completion of the contract is the final payment to the contractor pursuant to the terms of the contract. However, if a final certificate of occupancy, or written final acceptance of the project, is issued prior to final payment, the five-year period to bring an action shall commence no later than 12 months from the date of the certificate of occupancy or written final acceptance of the project.

Free access — add to your briefcase to read the full text and ask questions with AI

No action against the surety on a performance bond shall be brought unless within five years after completion of the contract. For the purposes of this section, completion of the contract is the final payment to the contractor pursuant to the terms of the contract. However, if a final certificate of occupancy, or written final acceptance of the project, is issued prior to final payment, the five-year period to bring an action shall commence no later than 12 months from the date of the certificate of occupancy or written final acceptance of the project.