357.17 - BOND OF CONTRACTOR. - Iowa Statutes

357.17 BOND OF CONTRACTOR. The successful bidder, when awarded a contract, shall be required to give an approved surety bond for one hundred percent of the contract price, guaranteeing completion of the work in accordance with the plans and specifications, and for maintenance, including backfilling, for one year after the final acceptance of the work. If the contractor shall fail to complete the work as provided in the contract, or shall abandon the same, or fail to proceed in a reasonable manner toward its final completion, the board may proceed against the contractor and surety as provided in sections 468.104 and 468.105.          Section History: Early Form [C39, § 5526.17; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, § 357.17]