Cal. Public Contract Code § 10222
Cal. Public Contract Code § 10222
California · California Public Contract Code · Status: effective · Effective 2011-01-01
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- Citation
- Cal. Public Contract Code § 10222, California, version 1 as recorded 2026-07-25, yourstate.us, https://yourstate.us/provision/896357
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Full text
(a) Each bond shall equal at least one-half of the contract price, except as otherwise provided in Section 9554 of the Civil Code, in the California Toll Bridge Authority Act (Chapter 1 (commencing with Section 30000) of Division 7 of the Streets and Highways Code), or in subdivision (b).
(b) Notwithstanding subdivision (a), for projects with a contract price greater than two hundred fifty million dollars ($250,000,000), the Department of Transportation shall have the discretion to specify that the payment bond shall equal not less than one-half of the contract price or five hundred million dollars ($500,000,000), whichever is less.