1. (1) bonds cannot reasonably be obtained for the work involved;
2. (2) the cost of the bond exceeds the risk to the procurement unit; or
3. (3) bonds are not necessary to protect the interests of the procurement unit.

The procurement official may waive any bonding requirement if it is determined in writing by the procurement official that:

KEY: bid security, performance bonds, payment bonds, procurement procedures

Date of Last Change: October 22, 2024

Authorizing, and Implemented or Interpreted Law: 63G-6a-107.7(1); 63G-6a-1103(3)