Pennsylvania SB871 amends the Second Class Township Code to require successful bidders to furnish a bond or other security for contract performance.

Pennsylvania SB871 amends the Second Class Township Code to modify the requirements for letting contracts. Successful bidders must now furnish a bond, irrevocable letter of credit, or other security to guarantee contract performance. The amount of this security must be between ten and one hundred percent of the contract value, determined by the board of supervisors. If the bidder fails to provide the required security within twenty days after the contract is awarded, the contract becomes void.

Pennsylvania SB871 amends the Second Class Township Code to require successful bidders to furnish a bond or other security for contract performance.

Pennsylvania SB871 amends the Second Class Township Code to modify the requirements for letting contracts. Successful bidders must now furnish a bond, irrevocable letter of credit, or other security to guarantee contract performance. The amount of this security must be between ten and one hundred percent of the contract value, determined by the board of supervisors. If the bidder fails to provide the required security within twenty days after the contract is awarded, the contract becomes void.