(a) In this subtitle the following words have the meanings indicated. (b) "Payment security" means security to guarantee payment for labor and materials, including leased equipment, under a contract for construction. (c) "Performance security" means security to guarantee the performance of a contract for construction. (d) "Public body" means: (1) the State; (2) a county, municipal corporation, or other political subdivision; (3) a public instrumentality; or (4) any governmental unit authorized to award a contract. (e) (1) "Supplier" means a person who supplies labor or materials. (2) "Supplier" includes a lessor of equipment to the extent of the fair rental value of the equipment.
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