105 Ind. Admin. Code 11-1-32

Current through November 6, 2024

Section 105 IAC 11-1-32 - "Surety" defined

Authority: IC 8-23-2-6

Affected: IC 8-23-10

Sec. 32.

"Surety" means the corporate body bound with and for the contractor for the full and complete performance of the contract and for the payment of all debts pertaining to the work. When applied to the bid bond, it refers to the corporate body which engages to be responsible for the execution of the contract by the bidder, within the specified time.

105 IAC 11-1-32

Indiana Department of Transportation; 105 IAC 11-1-32; filed Jul 25, 1991, 3:30 p.m.: 14 IR 2185; readopted filed Nov 7, 2001, 3:20 p.m.: 25 IR 899; readopted filed Jun 14, 2007, 2:45 p.m.: 20070627-IR-105070237RFA; readopted filed Oct 2, 2013, 11:39 a.m.: 20131030-IR-105130295RFA

Readopted filed 10/4/2019, 9:49 a.m.: 20191030-IR-105190422RFA