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21.06.07.00.htm 21.06.07.00. Title 21 STATE PROCUREMENT REGULATIONS Subtitle 06 CONTRACT FORMATION AND AWARD Chapter 07 Bid and Contract Security/Bonds Authority: State Finance and Procurement Article, §12-101, 13-207―13-209, 13-216, and 17-102―17-109, Annotated Code of Maryland
21.06.07.01.htm 21.06.07.01. 01 General.. A. Nothing contained in this chapter prevents a procurement officer from requiring performance or payment bonds, or both, on supply, service, maintenance, or construction-related service contracts if the contract is expected to exceed $100,000.B. Acceptable security for bid, performance, and payment bonds is limited to:. 1) A bond in a form satisfactory to the State underwritten by a surety company authorized to do business in this State;
21.06.07.02.htm 21.06.07.02. 02 Submission of Individual Surety Bonds ― Repealed.
21.06.07.03.htm 21.06.07.03. 03 Acceptability of Individual Sureties ― Repealed.
21.06.07.04.htm 21.06.07.04. 04 Security Interests by an Individual Surety ― Repealed.
21.06.07.05.htm 21.06.07.05. 05 Acceptability of Assets ― Repealed.
21.06.07.06.htm 21.06.07.06. 06 Unacceptable Assets ― Repealed.
21.06.07.07.htm 21.06.07.07. 07 Acceptance of Real Property ― Repealed.
21.06.07.08.htm 21.06.07.08. 08 Acceptance of Personal Property ― Repealed.
21.06.07.09.htm 21.06.07.09. 09 Bid Security.. A. General.. 1) Solicitations on all State construction contracts when the contract is expected to exceed $100,000 require the submission of bid security in an amount equal to at least 5 percent of the amount of the bid or price proposal except that, for bids stating a rate but not a total cost, the bid bond shall be in an amount as determined by the procurement officer. Bid security or evidence of the posting of bid security shall be submitted with the bid o
21.06.07.10.htm 21.06.07.10. 10 Performance and Payment Bonds.. A. Performance Bonds.. 1) General. A performance bond is required for all construction contracts in excess of $100,000 in the amount equal to at least 100 percent of the contract price. A performance bond may be required for a contract for services, supplies, maintenance, or construction-related services expected to exceed $100,000, as determined by the procurement officer. The performance bond shall be delivered by the contractor to the State
21.06.07.11.htm 21.06.07.11. 11 Federal Requirements.. To the extent required by federal law or the conditions governing federally assisted procurements, bid, performance, or payment securities are governed by the federal requirements, notwithstanding Regulations .01―10 of this chapter.
21.06.07.9999.htm 21.06.07.9999. Administrative History Effective date: July 1, 1981 (8:13 Md. R. II-5). Regulations .01A, .02A, and .03A, B amended effective May 6, 1985 (12:9 Md. R. 816). Regulation .02A amended as an emergency provision effective March 17, 1982 (9:6 Md. R. 612) emergency status expired June 30, 1982; adopted permanently effective July 5, 1982 (9:13 Md. R. 1354) ―Chapter revised effective January 9, 1989 (15:27 Md. R. 3138). Regulation .01A amended effective May 20, 1996 (23:10 Md. R. 733).
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