Hawaii HB808 amends the Procurement Code to require performance and payment bonds and insurance for construction contracts over $25,000.

Hawaii HB808 modifies the Procurement Code by mandating that construction contracts exceeding $25,000 must include performance and payment bonds and insurance. These bonds and insurance must be provided by a company authorized to do business in the state. The State has the right to take action against contractors for construction defects discovered within ten years of contract completion. The bill also allows the policy board to reduce the amount of required bonds and insurance. The changes do not affect rights, duties, penalties, or proceedings that occurred before the bill's effective date.

Hawaii HB808 amends the Procurement Code to require performance and payment bonds and insurance for construction contracts over $25,000.

Hawaii HB808 modifies the Procurement Code by mandating that construction contracts exceeding $25,000 must include performance and payment bonds and insurance. These bonds and insurance must be provided by a company authorized to do business in the state. The State has the right to take action against contractors for construction defects discovered within ten years of contract completion. The bill also allows the policy board to reduce the amount of required bonds and insurance. The changes do not affect rights, duties, penalties, or proceedings that occurred before the bill's effective date.