G.S. 44a-26 provides that any local government that lets a construction contract for more than $30,000 shall require the contractor to execute a payment bond in the amount of one hundred percent (100%) contract amount, conditioned the prompt payment for all labor and/or materials for which a contractor or subcontractor liable. The payment bond shall be solely for the protection of the persons furnishing materials or performing labor for which a contractor or subcontractor is liable.
Unlock the source link for this bid, plus email alerts when similar Construction bids open in North Carolina. 1,056 open bids in North Carolina — see them all with your trial.
Unlock with a 7-day free trial$49/mo after · cancel anytime
Card required · $0 today