13-10-41. Alternatives to performance bond.
57 words·~1 min read·
/ga/title-13-contracts/part-3-performance-bonds/13-10-41·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
When the amount of the performance bond required under this article does not exceed $300,000.00, the state may, in its sole discretion, accept an irrevocable letter of credit by a bank or savings and loan association, as defined in Code Section 7-1-4, in the amount of and in lieu of the bond otherwise required under this article.