(a) Except as otherwise provided in this section, a procurement officer may not require a bidder or offeror to provide bid security on a procurement contract if the procurement officer expects the price to be less than or equal to the small procurement amount specified in § 13-109 of this title. (b) (1) A procurement officer shall require a bidder or offeror to provide bid security on a procurement contract for construction if: (i) the price is expected to exceed the small procurement amount specified in § 13-109 of this title; or (ii) required by federal law or a condition of federal assistance requires the security. (2) The amount of bid security required for a procurement contract for construction shall be: (i) at least 5% of the bid or price proposal; or (ii) if the bid or price proposal states a rate but not a total price, an amount determined by the procurement officer. (c) (1) A procurement officer may require a bidder or offeror to provide bid security on a procurement contract for services, supplies, or construction related services if the price of the procurement contract is expected to exceed the small procurement amount specified in § 13-109 of this title. (2) A procurement officer shall require a bidder or offeror to provide bid security on a procurement contract for services, supplies, or construction related services if federal law or a condition of federal assistance requires the security. (3) The amount of bid security required for a procurement contract for services, supplies, or construction related services shall be an amount determined by the procurement officer. If a bid or proposal states a rate but not a total price, the procurement officer shall determine the dollar amount of the bid security. (d) Bid security under this section shall be: (1) a bond provided by a surety company authorized to do business in the State; (2) cash; or (3) another form of security allowed by regulation.
‹ Prev All Maryland sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.