WILLIAM DONALD SCHAEFER, Governor                     Ch. 48

(I)  AT LEAST 5% OF THE BID OR PRICE PROPOSAL;
OR

(II)  IF THE BID OR PRICE PROPOSAL STATES A RATE
BUT NOT A TOTAL PRICE, ANY AN AMOUNT DETERMINED BY THE
PROCUREMENT OFFICER.

(C)  CONTRACTS FOR SERVICES, SUPPLIES, OR CONSTRUCTION
RELATED SERVICES.

(1)  A PROCUREMENT OFFICER MAY REQUIRE A BIDDER OR
OFFEROR TO PROVIDE BID SECURITY ON A PROCUREMENT CONTRACT FOR
SERVICES, SUPPLIES, OR CONSTRUCTION RELATED SERVICES, SERVICES,
OR SUPPLIES IF THE PRICE OF THE PROCUREMENT CONTRACT IS EXPECTED
TO EXCEED $50,000.

(2)  A PROCUREMENT OFFICER SHALL REQUIRE A BIDDER OR
OFFEROR TO PROVIDE BID SECURITY ON A PROCUREMENT CONTRACT FOR
SERVICES, SUPPLIES, OR CONSTRUCTION RELATED SERVICES, SERVICES,
OR SUPPLIES IF BID SECURITY IS REQUIRED BY FEDERAL LAW OR AS A
CONDITION OF FEDERAL ASSISTANCE REQUIRES THE SECURITY.

(3)  THE AMOUNT OF BID SECURITY REQUIRED FOR A
PROCUREMENT CONTRACT FOR SERVICES, SUPPLIES, OR CONSTRUCTION
RELATED SERVICES, SERVICES, OR SUPPLIES SHALL BE ANY AN AMOUNT
DETERMINED BY THE PROCUREMENT OFFICER. IF A BID OR PROPOSAL
STATES A RATE BUT NOT A TOTAL PRICE, THE PROCUREMENT OFFICER
SHALL DETERMINE THE DOLLAR AMOUNT OF THE BID SECURITY.

(D)  TYPE OF SECURITY.

BID SECURITY UNDER THIS SECTION SHALL BE:

(1)  A BOND PROVIDED BY A SURETY COMPANY AUTHORIZED TO
DO BUSINESS IN THE STATE;

(2)  CASH; OR

(3)  ANOTHER FORM OF SECURITY ALLOWED UNDER
REGULATIONS OF THE BOARD ADOPTED IN ACCORDANCE WITH TITLE 10,
SUBTITLE 1 OF THE STATE GOVERNMENT ARTICLE BY REGULATION.

REVISOR'S NOTE: This section is new language derived

without substantive change from former SF §

ll-121(a)(l) and (b)(1), (2), and the first sentence
of (3).

Subsection (a) of this section is revised in the
active voice to clarify that a procurement officer
determines whether the expected price will be $50,000
or less. This revision is consistent with the words
"a procurement officer may not require ... bid
security", which are derived from the former law.

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