In this subtitle the following words have the meanings indicated. “Payment security” means security to guarantee payment for labor and materials, including leased equipment, under a contract for construction. “Performance security” means security to guarantee the performance of a contract for construction. “Public body” means: the State; a county, municipal corporation, or other political subdivision; a public instrumentality; or any governmental unit authorized to award a contract. “Supplier” means a person who supplies labor or materials. “Supplier” includes a lessor of equipment to the extent of the fair rental value of the equipment.