12 Pa. Code § 31.16

Current through Register Vol. 54, No. 49, December 7, 2024
Section 31.16 - Assurance of completion

The Agency will require payment and performance bonds equal to 100% of the contract price, including liquidated damages or penalties for failure to complete construction by the completion date, or an irrevocable letter of credit or pledged securities equal to 25% to 50% of the contract price, or such other amounts of security acceptable to the Agency.

12 Pa. Code § 31.16