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Current as of January 01, 2025 | Updated by Findlaw Staff
(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.
Cite this article: FindLaw.com - Pennsylvania Statutes Title 51 Pa.C.S.A. Military Affairs § 9605. Bonding and progress payments - last updated January 01, 2025 | https://codes.findlaw.com/pa/title-51-pacsa-military-affairs/pa-csa-sect-51-9605/
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