Pennsylvania HB1194 amends the Second Class Township Code to require successful bidders to furnish a bond or other security for contract performance.

Pennsylvania HB1194 amends the Second Class Township Code to require successful bidders to furnish a bond, irrevocable letter of credit, or other security for contract performance. This security must be provided within twenty days after the contract is awarded. The amount of the bond or security must be between ten percent and one hundred percent of the contract amount, as determined by the board of supervisors. If the bidder fails to provide the required security, the contract becomes void. This change applies to contracts not covered by the Public Works Contractors' Bond Law of 1967.

Pennsylvania HB1194 amends the Second Class Township Code to require successful bidders to furnish a bond or other security for contract performance.

Pennsylvania HB1194 amends the Second Class Township Code to require successful bidders to furnish a bond, irrevocable letter of credit, or other security for contract performance. This security must be provided within twenty days after the contract is awarded. The amount of the bond or security must be between ten percent and one hundred percent of the contract amount, as determined by the board of supervisors. If the bidder fails to provide the required security, the contract becomes void. This change applies to contracts not covered by the Public Works Contractors' Bond Law of 1967.