S.C. Code Regs. 63-708. Waiver of Bonding

A. The Department may waive bonding on set aside contracts with estimated construction costs not exceeding Two Hundred Fifty Thousand and No/100 ($250,000.00) Dollars. B. Bonding requirements that may be waived include the following: (1) On highway construction or bridge construction contracts, (a) Proposal guaranty or bid bond; (b) Performance and indemnity bond required by Section 57-5-1660(a)(1) of the Code of Laws of South Carolina (1976), as amended; (c) Payment bond required by Section 57-5-1660(a)(2) of the Code of Laws of South Carolina (1976), as amended. (2) On building construction or building renovation contracts, (a) Bid security required by Section 11-35-3030 of the Code of Laws of South Carolina (1976), as amended; (b) Performance bond required by Section 11-35-3030(2)(i) of the Code of Laws of South Carolina (1976), as amended; (c) Payment bond required by Section 11-35-3030(2)(ii) of the Code of Laws of South Carolina (1976), as amended. C. The Department shall process claims arising on non-bonded set-aside projects pursuant to Regulation 63-717.