Ind. Code § 8-23-9.5-26
Payment and performance bonds
Indiana · Indiana Code Title 8 — Utilities and Transportation · Status: effective
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- Ind. Code § 8-23-9.5-26, Payment and performance bonds, Indiana, version 1 as recorded 2026-09-28, yourstate.us, https://yourstate.us/provision/1621272
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Full text
Sec. 26.
(a) A contract with the department entered into under this chapter must require the selected CMGC or PDB to provide payment and performance bonds in an amount not less than the estimated cost of:
(1) the project; or
(2) the GMP, as described in the request for proposals.
(b) Construction services may not be performed until the CMGC or the PDB has provided the bonds as required under subsection (a).
(c) A performance or payment bond is not required for, and does not provide coverage for, a part of a contract that includes only design services.
(d) This section does not impair the ability of the department to seek recovery under a contract from the selected CMGC or PDB for errors, omissions, or defects in design services.