Michigan Compiled Laws Act 213 Of 1963 Contractor's Bond For Public Buildings Or Works (129.201 - 129.212)

• Section 129.201 Bonds Of Principal Contractor On Public Building, Work, Or Improvement; Irrevocable Letter Of Credit.
  Before any contract, exceeding $50,000.00 for the construction, alteration, or repair of any public building or public work or improvement of the state or...
• Section 129.202 Performance Bond; Amount; Condition; Purpose.
  The performance bond shall be in an amount fixed by the governmental unit but not less than 25% of the contract amount, conditioned upon...
• Section 129.203 Payment Bond; Amount; Purpose.
  The payment bond shall be in an amount fixed by the governmental unit but not less than 25% of the contract amount solely for...
• Section 129.204 Bond, Surety, Obligee.
  A bond shall be executed by a surety company authorized to do business in this state. In the case of a contract of the...
• Section 129.205 Filing Of Bond.
  The bonds shall be filed in the office of the governmental unit awarding the contract. History: 1963, Act 213, Eff. Sept. 6, 1963
• Section 129.206 Public Works, Contractor's Bond; Definitions.
  A “claimant” means a person having furnished labor, material, or both, used or reasonably required for use in the performance of the contract. “Labor...
• Section 129.207 Enforcement Of Claims; Notice Of Supplier To Principal Contractor Or Governmental Unit; Payment To Subcontractor.
  A claimant who has furnished labor or material in the prosecution of the work provided for in such contract in respect of which payment...
• Section 129.208 Copies Of Bonds And Contracts; Fees.
  The agent in charge of the office of the governmental unit shall furnish to anyone making application therefor who submits an affidavit that he...
• Section 129.209 Venue; Statute Of Limitations.
  An action instituted on the payment bond shall be brought only in the appropriate court in the political subdivision in which the contract was...
• Section 129.210 Application Of Statute.
  This act shall not apply to any contract awarded pursuant to an invitation for bids issued on or before the effective date hereof, or...
• Section 129.211 Repeal; Restriction On Other Statute.
  Section 64 of Act No. 59 of the Public Acts of 1915, as amended, being section 247.464 of the Compiled Laws of 1948 is...
• Section 129.212 Act Inapplicable To Contracts Awarded Under Mcl 280.1 To 280.630.
  This act does not apply to a contract awarded under the drain code of 1956, Act No. 40 of the Public Acts of 1956,...

Last modified: October 10, 2016