1. A. The Department may waive bonding on set aside contracts with estimated construction costs not exceeding Two Hundred Fifty Thousand and No/100 ($250,000.00) Dollars.

2. B. Bonding requirements that may be waived include the following:

   1. (1) On highway construction or bridge construction contracts,

      1. (a) Proposal guaranty or bid bond;
      2. (b) Performance and indemnity bond required by Section 57-5-1660(a)(1) of the Code of Laws of South Carolina (1976), as amended;
      3. (c) Payment bond required by Section 57-5-1660(a)(2) of the Code of Laws of South Carolina (1976), as amended.

   2. (2) On building construction or building renovation contracts,

      1. (a) Bid security required by Section 11-35-3030 of the Code of Laws of South Carolina (1976), as amended;
      2. (b) Performance bond required by Section 11-35-3030(2)(i) of the Code of Laws of South Carolina (1976), as amended;
      3. (c) Payment bond required by Section 11-35-3030(2)(ii) of the Code of Laws of South Carolina (1976), as amended.
3. C. The Department shall process claims arising on non-bonded set-aside projects pursuant to Regulation 63-717.

HISTORY: Added by State Register Volume 16, Issue No. 6, eff June 26, 1992. Amended by State Register Volume 24, Issue No. 4, eff April 28, 2000.