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Unannotated Code of Maryland (Last Updated: May 16, 2014) |
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STATE FINANCE AND PROCUREMENT |
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DIVISION II. GENERAL PROCUREMENT LAW |
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TITLE 17. SPECIAL PROVISIONS -- STATE AND LOCAL SUBDIVISIONS |
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SUBTITLE 1. SECURITY FOR CONSTRUCTION CONTRACTS |
§ 17-102. Scope of subtitle
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(a) In general. -- This subtitle does not limit the authority of a public body to require performance security in addition to, or in cases other than, those specified under § 17-103, 17-104, 17-106, and 17-107 of this subtitle.
(b) Application to construction contracts. -- This subtitle applies only to security for a construction contract.
(c) Application to Baltimore City. --
(1) By ordinance, Baltimore City may provide for a program to satisfy the bonding requirements under § 17-103, 17-104, 17-106, and 17-107 of this subtitle with respect to any construction contract:
(i) that does not exceed $ 200,000; and
(ii) for which State money is not used.
(2) The program shall provide for payment security of at least 50% of the total amount payable under the contract.