§ 24-8-13 - Contractors' bond – Forfeiture. - Rhode Island Statutes

SECTION 24-8-13

   § 24-8-13  Contractors' bond –Forfeiture. – The person whose proposal or bid is accepted by the department ofadministration, shall be required to give bond, in a sum not less than fiftypercent (50%) of the contract price, to indemnify the town or city where theroad lies against damage while the road is being constructed or improved, andthe state shall not be liable for any damage occasioned thereby; and everycontract made for the construction or improvement shall provide for aforfeiture of such sum or sums as the department may deem proper, for failureto complete, according to contract, the road construction or improvement withinthe specified time.