09 NCAC 06B .1031. FAITHFUL PERFORMANCE

(a) A bond, or other means of ensuring faithful performance, may be required of the contractor at the contractor's expense. (b) Liquidated damages may be provided for in the contract, as a means of ensuring faithful performance from the contractor. (c) The agency may hold as a retainage a percentage of the contract value to be remitted upon final acceptance by the agency. (d) The agency may withhold final payment contingent on acceptance of the final deliverable.