Do all of the Town of Fairfield bids require a bid bond, payment bond and/or performance bonds?
Category: Purchasing Department (Ask Us)
Non-resident Contractors are required to deposit with the Department of Revenue Services a sum equivalent to 5% of the total contract value, as assurance that personal property taxes and/or any other State taxes assessed and due the State during Contract will be paid. If this surety is not deposited with the State, the Town is required to deduct and submit to the State 5% of the total contract value. The Contractor is required to furnish payment and performance bonds prior to beginning the work depending on the scope and total amount of construction.
Updated 4/2/2014 3:28 PM