Requirement of Contract Bond for Construction Contracts

Section 660 Section 6.290  Requirement of Contract Bond for Construction Contracts The successful bidder awarded a construction contract shall furnish the Department a performance and payment bond with good and sufficient sureties in the full amount of the contract as the penal sum.  (See the Public Construction Bond Act [30 ILCS 550].)  The surety shall be acceptable to the CPO, shall waive notice of any changes and extensions of time, and shall submit its bond on the form furnished by the CPO.  Performance security for other contracts shall be as stated in the Invitation and contract.