§ 17–103
Statutes in effect as of October 1, 2026.
Md. Code Ann., State Fin. & Proc. § 17-103 (2026)
Title 17. Special Provisions -- State and Local Subdivisions
Subtitle 1. Security for Construction Contracts
§ 17–103LinkCopy Citation
(a)
(1)
Before a public body awards a construction contract exceeding the small procurement amount specified in § 13–109 of this article for construction, the contractor shall provide payment security and performance security that meet the requirements of § 17–104 of this subtitle.
(2)
The security shall be:
(i)
for performance security, in an amount that the public body considers adequate for its protection; and
(ii)
for payment security, at least 50% of the total amount payable under the contract.
(b)
A public body, other than the State or a unit of the State government, may require payment security or performance security for a construction contract if:
(1)
the contract exceeds $100,000 but does not exceed the small procurement amount specified in § 13–109 of this article; and
(2)
the amount of the security does not exceed 50% of the contract amount.