OAR 137-049-0460
Performance and Payment Security; Waiver


(1)

Public Improvement Contracts. Unless the required performance bond is waived under ORS 279C.380 (Performance bond)(1)(a), excused in cases of emergency under 279C.380 (Performance bond)(4), or unless the Contracting Agency’s Contract Review Authority exempts a Contract or classes of contracts from the required performance bond and payment bond pursuant to 279C.390 (Exemption of contracts from bid security and bonds), the Contractor shall execute and deliver to the Contracting Agency a performance bond and a payment bond each in a sum equal to the Contract Price for all Public Improvement Contracts. This requirement applies only to Public Improvement Contracts with a value, estimated by the Contracting Agency, of more than $100,000 or, in the case of Contracts for highways, bridges and other transportation projects, more than $50,000. See 279C.380 (Performance bond)(5). Under 279C.390 (Exemption of contracts from bid security and bonds)(3)(b) the Director of the Oregon Department of Transportation may reduce the performance bond amount for contracts financed from the proceeds of bonds issued under 367.620 (Limitation on bond amount)(3)(a). Also see OAR 137-049-0815 (BOLI Public Works Bond) and BOLI rules at 839-025-0015 (Public Works Bonds Requirements) regarding the separate requirement for a Public Works bond.

(2)

Other Construction Contracts. A Contracting Agency may require performance security for other construction Contracts that are not Public Improvement Contracts. Such requirements shall be expressly set forth in the Solicitation Document.

(3)

Requirement for Surety Bond. The Contracting Agency shall accept only a performance bond furnished by a surety company authorized to do business in Oregon unless otherwise specified in the Solicitation Document (i.e., the Contracting Agency may accept a cashier’s check or certified check in lieu or all or a portion of the required performance bond if specified in the Solicitation Document). The payment bond must be furnished by a surety company authorized to do business in Oregon, and in an amount equal to the full Contract Price.

(4)

Time for Submission. The apparent successful Offeror must promptly furnish the required performance security upon the Contracting Agency’s request. If the Offeror fails to furnish the performance security as requested, the Contracting Agency may reject the Offer and Award the Contract to the Responsible Bidder with the next lowest Responsive Bid or the Responsible Proposer with the next highest-scoring Responsive Proposal, and, at the Contracting Agency’s discretion, the Offeror shall forfeit its Bid or Proposal security.

Source: Rule 137-049-0460 — Performance and Payment Security; Waiver, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=137-049-0460.

137–049–0100
Application
137–049–0110
Policies
137–049–0120
Definitions
137–049–0130
Competitive Bidding Requirement
137–049–0140
Contracts for Construction Other Than Public Improvements
137–049–0150
Emergency Contracts
137–049–0160
Intermediate Procurements
137–049–0200
Solicitation Documents
137–049–0210
Notice and Advertising Requirements
137–049–0220
Prequalification of Offerors
137–049–0230
Eligibility to Bid or Propose
137–049–0240
Pre-Offer Conferences
137–049–0250
Addenda to Solicitation Documents
137–049–0260
Request for Clarification or Change
137–049–0270
Cancellation of Solicitation Document
137–049–0280
Offer Submissions
137–049–0290
Bid or Proposal Security
137–049–0300
Facsimile Bids and Proposals
137–049–0310
Electronic Procurement
137–049–0320
Pre-Closing Modification or Withdrawal of Offers
137–049–0330
Receipt, Opening and Recording of Offers
137–049–0340
Late Bids, Late Withdrawals and Late Modifications
137–049–0350
Mistakes
137–049–0360
First-Tier Subcontractors
137–049–0370
Disqualification of Persons
137–049–0380
Bid or Proposal Evaluation Criteria
137–049–0390
Offer Evaluation and Award
137–049–0395
Notice of Intent to Award
137–049–0400
Documentation of Award
137–049–0410
Time for Contracting Agency Acceptance
137–049–0420
Negotiation With Bidders Prohibited
137–049–0430
Negotiation When Bids Exceed Cost Estimate
137–049–0440
Rejection of Offers
137–049–0450
Protest of Contractor Selection, Contract Award
137–049–0460
Performance and Payment Security
137–049–0470
Substitute Contractor
137–049–0490
Foreign Contractor
137–049–0600
Purpose
137–049–0610
Definitions for Alternative Contracting Methods
137–049–0620
Use of Alternative Contracting Methods
137–049–0630
Findings, Notice and Hearing
137–049–0640
Competitive Proposals
137–049–0645
Requests for Qualifications (RFQ)
137–049–0650
Requests for Proposals (“RFP”)
137–049–0660
RFP Pricing Mechanisms
137–049–0670
Design-Build Contracts
137–049–0680
Energy Savings Performance Contracts (ESPC)
137–049–0690
Construction Manager/General Contractor Services (“CM/GC Services”)
137–049–0800
Required Contract Clauses
137–049–0810
Waiver of Delay Damages Against Public Policy
137–049–0815
BOLI Public Works Bond
137–049–0820
Retainage
137–049–0830
Contractor Progress Payments
137–049–0840
Interest
137–049–0850
Final Inspection
137–049–0860
Public Works Contracts
137–049–0870
Specifications
137–049–0880
Records Maintenance
137–049–0890
Contracting Agency Payment for Unpaid Labor or Supplies
137–049–0900
Contract Suspension
137–049–0910
Changes to the Work and Contract Amendments
Last Updated

Jun. 8, 2021

Rule 137-049-0460’s source at or​.us