Okla. Stat. tit. 61, § 61-1: Bond to be furnished on public works contracts

A. Prior to an award of a contract exceeding One Hundred

Thousand Dollars ($100,000.00) for construction or repair of a

public or private building, structure, or improvement on public real

property, the person that receives the award shall furnish a bond

with good and sufficient sureties payable to the state in a sum not

less than the total sum of the contract.

B. The bond shall ensure the proper and prompt completion of

the work in accordance with the contract and shall ensure that the

contractor shall pay all indebtedness the contractor incurs for the

contractor's subcontractors and all suppliers of labor, material,

rental of machinery or equipment, and repair of and parts for

equipment the contract requires the contractor to furnish.