Payment Bonds for Public Work Contracts
Date Posted: May 11, 2014
Posted In: White Papers,
Public works projects are subject to statutory requirements that are not applicable to private sector construction.3 These statutes must be considered when contemplating a public works project because they can affect cost and their violation can carry criminal liability.4 Moreover, contractors, subcontractors and material suppliers are presumed to know they apply.5 To provide sound advice, construction attorneys must be familiar with these statutes.
This article examines the statutory requirements for payment bonds for public works contractors. Other requirements are considered to the extent they interrelate with payment bonds.