Bonding and Insurance

Bonding and Insurance

Certain mandatory General Conditions for Construction and/or Architect’s Contracts include but are not limited to the following:

Contractor Performance and Payment Bonds for the full value of each Category I, III or IV contract are required in the formats stipulated (AIA Document A312). The bonding company must be approved by the Division of Insurance.

Bid Bonds guaranteeing that a Category IV contractor will enter into a contract for the amount bid are required for the percentage of the bid amount indicated.

Builder’s Risk Insurance shall be provided by the Contractor on projects where the Contractor has full control of the building(s) unless otherwise approved by the DMS.

General Liability and Professional Liability is required of all contractors doing work on any AOB property. Click here for more specific information regarding Insurance Requirements.