Regl. 6632, art. 63
BONDS
Length: 86 wordsOfficial source
Cite as Reglamento Núm. 6632, Art. 63
A. It may be presented by certified check, money order or bond from a company
acknowledged to do business in Puerto Rico.
B. Bid Bond: It shall be 25% of the total value of the quoted amount.
C. Execution Bond: It shall be 25% of the contracted total.
D. Appeal Bond: It shall be 25% of the total value of the appellant bidder's bid.
E. These bonds shall be used in order to satisfy the Economic Damages Caused for
those who are obligated to render them.