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Is A Payment Bond Required? Infographic Analysis State Laws

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Generally speaking, when a party performs work on a public works project, the necessary remedy for non-payment is to make a claim against the payment bond. …

Generally speaking, when a party performs work on a public works project, the necessary remedy for non-payment is to make a claim against the payment bond.

Every state has some rule designating the value of an original contract for a public works project that necessitates that project be covered by a payment bond. The amounts that trigger that responsibility, however, differ from state to state.

This infographic explores some of the state rules and nuances about when a payment bond will be required for a state, county, municipal, or other public project.

Published in: Business

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