Guarantee fees (Repealed)

(a) A small contractor on whose behalf a Surety Bond Guarantee has been issued shall pay to the Department a guarantee fee not to exceed the lesser of (1) five-tenths of one percent (5/10 of 1%) of the contract face value; or (2) One Hundred Thirty-Five Dollars ($135). (b) The Surety shall pay to the Department a Surety Bond Guarantee fee of 20 percent of the bond premium subject to adjustment as described in these regulations. (c) Each application for a Surety Bond Guarantee submitted to the Department shall be accompanied by an application fee of $10 from the Small Contractor on whose behalf a Surety Bond Guarantee is sought. Such fee shall not be refundable in the event the application is rejected. (d) The Department accepts the bond premium rates listed in the contract section of the Surety Association of America's "Rating Manual." The Department will accept Surety Bond Guarantee requests from Surety companies charging more than "Rating Manual" rates; provided, that their premium rates have been authorized by the Department of Insurance of the State of Connecticut. (e) The Department will not participate in any Surety Bond Guarantee in which either the Surety company or the Surety's representative (including agent/brokers) charge any other fee above and beyond the stated premium for services, processing, etc., except those permitted by the Department of Insurance of the State of Connecticut. The Department shall not receive any portion of such non-premium charges.