Section 105IAC7-1-14. Performance bonds

   The department shall require a performance bond to be filed with each application for a commercial driveway showing the applicant as principal in a minimum amount of five thousand ($5,000) dollars or in an amount as spcifically set by appropriate department action. Such amount shall be increased in any application to equal the estimated cost of that part of the project on the department's right-of-way. The department may also require an adequate bond to be filed in any noncommercial application. Such bonds are required to insure compliance with all terms of the permit and shall in case of noncompliance, provide in addition to any damages suffered thereby, all witness and court costs in collecting the same, together with any attorney's fee reasonably due, and shall be released only when the work described on the permit has been completed to the satisfaction of the department. (Indiana Department of Transportation; Rule 13; filed Nov 16, 1971, 9:45 a.m.: Rules and Regs. 1972, p. 144; filed Aug 2, 1985, 3:39 p.m.: 8 IR 1708; readopted filed Nov 7, 2001, 3:20 p.m.: 25 IR 899; readopted filed Jun 14, 2007, 2:45 p.m.: 20070627-IR-105070237RFA; readopted filed Oct 2, 2013, 11:39 a.m.: 20131030-IR-105130295RFA) NOTE: Transferred from Department of Highways (120 IAC 2-1-13) to Indiana Department of Transportation (105 IAC 7-1-14) by P.L.112-1989, SECTION 5, effective July 1, 1989.