§ 9605. Bonding and progress payments.
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/pa/title-51/chapter-96/9605A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 9605. Bonding and progress payments.
(a)Bonding.-- Notwithstanding 62 Pa.C.S. Pt. I (relating to Commonwealth Procurement Code):
(1)Except as provided in paragraph (2), a purchasing agency may reduce the level or change the types of bonding normally required or accept alternative forms of security to the extent reasonably necessary to encourage procurement from veteran-owned small businesses and service-disabled veteran-owned small businesses.
(2)For contracts under $25,000, veteran-owned small businesses and service-disabled veteran-owned small businesses shall be exempt from any bonding requirements.
(b)Progress payments.-- A purchasing agency may make special provisions for progress payments as it deems reasonably necessary to encourage procurement from veteran-owned small businesses and service-disabled veteran-owned small businesses.
51c9606s