OAR 731-005-0770
Performance Security

(1)

Public Improvement Contracts. Unless ODOT waives the required performance and payment bonds under ORS 279C.380 (Performance bond)(4), or the director of the Department of Transportation exempts a Contract or classes of Contracts from the required performance bond pursuant to ORS 279C.390 (Exemption of contracts from bid security and bonds), the Contractor shall execute and deliver to ODOT a performance bond and a payment bond.

(2)

Requirement for Surety Bond. The Contractor shall use ODOT’s standard forms that are bound in the Contract booklet. The amount of each bond shall be equal to the Contract Amount. The surety company’s authorized attorney in fact shall sign the performance bond and the payment bond. The surety company’s seal shall be affixed to each bond. A power of attorney for the attorney in fact shall be attached to the bonds in the Contract booklet. Include performance/payment bond number. Bonds cannot be canceled by the Contractor or the surety, nor can they be released by ODOT due to possible claims.

(3)

Time for Submission. The apparent successful Offeror must furnish the performance/payment security as required by the Solicitation Document. If the Offeror fails to furnish the security as requested, ODOT 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 ODOT’s discretion, the Offeror shall forfeit its Bid or Proposal security.

Source: Rule 731-005-0770 — Performance Security, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=731-005-0770.

731‑005‑0400
Repealed Rules 731‑005‑0410
Effective Date 731‑005‑0420
Scope 731‑005‑0430
Definitions 731‑005‑0440
Competitive Procurement 731‑005‑0460
Eligibility to Bid or Propose on Construction or Landscape Contracts 731‑005‑0470
Solicitation Methods 731‑005‑0480
Brand Name Products 731‑005‑0490
Bids or Proposals Are Offers 731‑005‑0500
Facsimile Bids and Proposals 731‑005‑0505
Electronic Procurement 731‑005‑0510
Use of Electronic Data Interchange 731‑005‑0520
Notice and Advertising Requirements 731‑005‑0530
Offer Preparation 731‑005‑0540
Offeror Submissions 731‑005‑0550
Bid or Proposal Security 731‑005‑0560
Pre-Offer Conferences 731‑005‑0570
Solicitation Protest 731‑005‑0580
Addenda to a Solicitation Document 731‑005‑0590
Pre-Opening Modification or Withdrawal of Offers 731‑005‑0600
Receipt, Opening, and Recording of Offers 731‑005‑0610
Late Offers, Late Withdrawals and Late Modifications 731‑005‑0620
Mistakes 731‑005‑0630
Time for Agency Acceptance 731‑005‑0640
Extension of Time for Acceptance of Offer 731‑005‑0650
Offer Evaluation and Award 731‑005‑0660
Tie Offers 731‑005‑0670
Rejection of an Offer 731‑005‑0680
Rejection of All Offers 731‑005‑0690
Protest of Contractor Selection, Contract Award 731‑005‑0700
Negotiation with Bidders 731‑005‑0710
Disqualification of an Entity 731‑005‑0720
Cancellation of Solicitation 731‑005‑0730
Disposition of Offers if Solicitation Canceled 731‑005‑0740
Documentation of Award 731‑005‑0750
Non-Resident Contractor 731‑005‑0760
Availability of Award Decisions 731‑005‑0770
Performance Security
Last Updated

Jun. 8, 2021

Rule 731-005-0770’s source at or​.us