VIRGINIA—H2017—PAYMENT BOND THRESHOLD

VA H2017, effective 7-1-17, amends the thresholds for requiring a performance and payment bond.  A bond will be required on general contracts exceeding $500,000.00, and on general contracts for Commonwealth transportation projects exceeding $350,000.00.  On non-transportation projects between $100,000.00 and $300,000.00, the bond requirement may be waived if the contractor has been prequalified by the public entity.  Click here for legislation

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