Performance bonds shall be required for all public works construction contracts subject to the requirements of this chapter with an estimated contract amount greater than $100,000.00; provided, however, that a governmental entity may require a performance bond for public works construction contracts that are estimated at $100,000.00 or less. No public works construction contract requiring a performance bond shall be valid for any purpose unless the contractor shall give such performance bond. The performance bond shall be in the amount of at least the total amount payable by the terms of the contract and shall be increased as the contract amount is increased.
(Code 1981, §36-91-50, enacted by Ga. L. 2000, p. 498, § 1; Code 1981, §36-91-70, as redesignated by Ga. L. 2001, p. 820, § 12.)
For application of this statute in 2020, see Executive Orders 06.11.20.01, 06.29.20.02, 07.15.20.01, 07.31.20.02, 08.15.20.01, and 08.31.20.02.
A listing of Executive Orders issued in 2020 can be found at https://gov.georgia.gov/executive-action/executive-orders/2020-executive-orders.
Ga. L. 2001, p. 820, § 12, effective July 1, 2001, redesignated former Code Section 36-91-70 as present Code Section 36-91-90.