5-18B-12. Bond or deposit of securities in lieu of retention of sums due for work performed.
The purchasing agency may include in any contract for a public improvement provisions for a bond or the deposit of securities in lieu of sums retained from payments due a contractor for work performed pursuant to the terms of the contract. The contract document shall state the types of bond or securities to be accepted and the procedural requirements for the deposits.
Source: SL 2010, ch 31, ยง51.
Structure South Dakota Codified Laws
Title 5 - Public Property, Purchases and Contracts
Chapter 18B - Procurement Of Public Improvements
Section 5-18B-1 - Plans and specifications--Advertisement--Availability.
Section 5-18B-2 - Certified check or cashier's check for percentage of bid or bid bond required.
Section 5-18B-3 - Check or bid bond requirement--Waiver.
Section 5-18B-4 - Surety bond or insurance contract required in bid, in contract, or by law.
Section 5-18B-6 - Certification regarding labor provided by nonresident subcontractors.
Section 5-18B-7 - Contractor's use tax liability.
Section 5-18B-8 - Forfeited funds accrue to funds provided for construction.
Section 5-18B-9 - Time limits--Return of checks--Return or destruction of bid bonds.
Section 5-18B-10 - Plans and specifications prepared by architect or engineer.
Section 5-18B-11 - Progress payments--Retention of funds from final payment--Interest.
Section 5-18B-13 - Occupancy before completion and acceptance.
Section 5-18B-14 - Project superintendent--Installment payments--Final payment.
Section 5-18B-16 - Unemployment compensation.
Section 5-18B-17 - Contractor's excise tax license.
Section 5-18B-18 - Contributions and interest due the Department of Labor and Regulation.
Section 5-18B-19 - Amendment or change order to existing contract.
Section 5-18B-20 - Design-build contracts.
Section 5-18B-21 - Design-builder to be authorized.
Section 5-18B-22 - Subletting of design services.
Section 5-18B-23 - Subletting construction or other services.
Section 5-18B-26 - Performance criteria developer and design builder to perform separate roles.
Section 5-18B-28 - Development of performance criteria.
Section 5-18B-30 - Design-build request not to be detailed--Drawings--Specifications--Standards.
Section 5-18B-31 - Pre-qualification of design-builders--Elements of request for qualifications.
Section 5-18B-32 - Deposit or bond submitted with proposal--Forfeiture.
Section 5-18B-33 - Proposals to be sealed--Contents.
Section 5-18B-34 - Confidentiality of proposals.
Section 5-18B-36 - Acceptance of a proposal--Evaluation criteria scores.
Section 5-18B-37 - Rejection of design-build proposals--Solicitation of new proposals.
Section 5-18B-38 - Withdrawal of design-build proposal.
Section 5-18B-39 - Construction manager engagement.
Section 5-18B-40 - Services of construction manager.
Section 5-18B-41 - Manager-agent.
Section 5-18B-42 - Manager-at-risk.
Section 5-18B-43 - Criteria for construction manager engagement.
Section 5-18B-44 - Criteria for construction manager-at-risk engagement.
Section 5-18B-45 - Active involvement of licensed design professional required.
Section 5-18B-46 - Improvement projects that rely on federal funding from FAA.