333.360 - Performance bonds; Chief of Purchasing Division may require check or bond before entering into contract. - Nevada Statutes

333.360  Performance bonds; Chief of Purchasing Division may require check or bond before entering into contract.

      1.  A bond furnished by a surety company authorized to do business in this state may be required by the Chief for the proper performance of the contract. The Chief may request a certified check, cashier’s check or bond, in an amount not to exceed the total amount of the contract, before entering into a contract with a person who submits a successful bid or proposal.

      2.  No division or department of the State is liable for any expense incurred by or loss of income sustained by any person because of a request made pursuant to subsection 1.

      [25:333:1951]—(NRS A 1963, 1058; 1991, 623)