{"data":{"id":"us-md/md.-code-state-finance-and-procurement-17-103","jurisdiction":"us-md","citation":"Md. Code, State Finance and Procurement § 17–103","heading":"","body":"(a) (1) Before a public body awards a construction contract exceeding the small procurement amount specified in § 13–109 of this article for construction, the contractor shall provide payment security and performance security that meet the requirements of § 17–104 of this subtitle.\n(2) The security shall be:\n(i) for performance security, in an amount that the public body considers adequate for its protection; and\n(ii) for payment security, at least 50% of the total amount payable under the contract.\n(b) A public body, other than the State or a unit of the State government, may require payment security or performance security for a construction contract if:\n(1) the contract exceeds $100,000 but does not exceed the small procurement amount specified in § 13–109 of this article; and\n(2) the amount of the security does not exceed 50% of the contract amount.","path":["Article - State Finance and Procurement"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gsf\u0026section=17-103","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T20:00:48Z","sha256":"b594de250348e995c5e6bac183f1410eae0a9d8545a778154adfe1d5f15965b3","source_id":"us-md","stale":false,"prev":"us-md/md.-code-state-finance-and-procurement-17-102","next":"us-md/md.-code-state-finance-and-procurement-17-104"},"notice":"GroundRules: Original legal text. Not legal advice."}