Eligibility (Repealed)

In order to be eligible for a Surety Bond Guarantee, the applicant must: (a) be a Small Contractor as defined in these regulations; (b) demonstrate, to the satisfaction of the Commissioner, independent ownership and operation; (c) represent that a bond is required in order to bid on a contract or to serve as a prime contractor or subcontractor thereon; (d) represent that a bond is not obtainable on reasonable terms and conditions without the Department's Bond Guarantee assistance; (e) represent that such applicant is not the principal on any existing bond guaranteed under the Department's Surety Bond Guarantee Program; and (f) file an application for Surety Bond Guarantee assistance on Department Surety Bond Guarantee application forms and include any additional information required in supporting schedules and forms; (g) the application shall be submitted to a representative of a Surety in duplicate, with all other supporting material. The representative will forward one copy to the Department and one copy to the Surety.