# Sec. 5A-114.01. Performance bond and Letter of Credit

Codified through Bill No. CB-018-2026, adopted May 12, 2026, effective July 24, 2026. Source: Municode, Supplement 2026 Update 2. Editorial notes and legislative history omitted.

## Sec. 5A-114.01. Performance bond and Letter of Credit

Prince George's County, Md., Code § 5A-114.01 (2026)

Unless otherwise provided for in the franchise agreement, the franchisee shall maintain a performance bond at one hundred percent (100%) of the cost of construction. In addition, the franchisee shall maintain a letter of credit in a sum not less then Five Hundred Thousand Dollars ($500,000). The letter of credit may be reduced in an amount up to Two Hundred Fifty Thousand Dollars ($250,000) upon the completion of fifty percent (50%) of the construction. The franchisee shall file with the Director a duplicate copy of the performance bond and/or letter or credit which must be approved by the County's Office of Law.