Section 105IAC11-1-18. "Performance bond" defined

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"Performance bond" means the approved form of security, furnished and executed by the bidder and its surety or sureties, guaranteeing complete execution of the contract in accordance with all applicable plans, specifications, and supplemental agreements pertaining thereto and for the payment of all legal debts pertaining to the construction of the project. The performance bond will be in effect upon the proper execution of the contract. (Indiana Department of Transportation; 105 IAC 11-1-18; filed Jul 25, 1991, 3:30 p.m.: 14 IR 2183; readopted filed Nov 7, 2001, 3:20 p.m.: 25 IR 899; filed May 23, 2007, 2:58 p.m.: 20070620-IR-105070036FRA; readopted filed Oct 2, 2013, 11:39 a.m.: 20131030-IR-105130295RFA)

                    
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