Statute · California Public Contract Code
Cal. Pub. Cont. Code § 10222 — Contract Requirements
Cal. Pub. Cont. Code § 10222
- Type
- Statute
- Source
- California Public Contract Code
- Jurisdiction
- California
- Date
- 2011-01-01
- Current through
- Nov 2, 2026 (California Legislative Counsel)
(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).
Citator
Cal. Pub. Cont. Code § 10222 — Contract Requirements is in force in the current edition of the Code, and nothing recorded condemns it.
(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.