(a) Except as provided in subsection (b) of this section, a procurement officer may not require a contractor to provide a performance bond, payment bond, or other security on a procurement contract for construction, construction related services, services, or supplies if the price of the procurement contract is $100,000 or less.
(b) A procurement officer shall require a contractor to provide a performance bond, payment bond, or other security if federal law or a condition of federal assistance requires the security.
(c) If the price of a procurement contract for construction exceeds $100,000, a procurement officer shall require a contractor to provide security as required under Title 17, Subtitle 1 of this article.
(d) A procurement officer may require a contractor to provide a performance bond or other security on a procurement contract for supplies, services, or construction related services if:
(1) circumstances warrant security; and
(2) the price of the procurement contract exceeds $100,000.
(e) (1) The Board shall adopt regulations to establish separate surety bond forms for procurement officers to use to require security for:
(i) fixed–price contracts; and
(ii) multiyear contracts.
(2) The form for multiyear contracts shall provide for annual and renewable contracts.
Structure Maryland Statutes
Division II - General Procurement Law
Title 13 - Source Selection -- State Procurement Contracts
Subtitle 2 - Procedural Requirements
Section 13-213 - Regulations on Price and Cost Principles
Section 13-215 - Cost-Reimbursement Contracts
Section 13-216 - Security for Payment; Performance
Section 13-217 - Multi-Year Procurement Contracts
Section 13-218 - Required Clauses -- in General
Section 13-218.1 - Service Contract
Section 13-219 - Required Clauses -- Nondiscrimination Clause
Section 13-220 - Cost and Price Information
Section 13-221 - Disclosures to Secretary of State
Section 13-223 - Contingent Fees
Section 13-224 - Procurement Contracts
Section 13-226 - Electronic Transactions
Section 13-227 - Subcontractor Equal Access to Bonding Act of 2013