Utah Admin. Code 33-111-301
Current through Bulletin No. 2024-21, November 1, 2024
A performance bond is required for construction contracts exceeding $50,000, in the amount of 100% of the contract price. The performance bond shall be delivered by the contractor to the procurement unit within 14 days of the contractor receiving notice of the award of the construction contract. If a contractor fails to deliver the required performance bond, the contractor's bid or offer shall be rejected, its bid security may be enforced, and award of the contract may be made to the responsible bidder or offeror with the next lowest responsive bid or highest ranked offer.
Utah Admin. Code R33-111-301