{"data":{"id":"us-ok/okla.-stat.-tit.-61-61-113","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 61, § 61-113","heading":"Execution of contract","body":"A. Except as otherwise provided by law, within the period of\n\ntime, not to exceed sixty (60) days, specified in the bid notice by\n\nthe awarding public agency, a contract embodying the terms set forth\n\nin the bidding documents shall be executed by the awarding public\n\nagency or, where construction management at-risk is the project\n\ndelivery method, by the construction manager and the successful\n\nbidder. No bidder shall obtain any property right in a contract\n\nawarded under the provisions of the Public Competitive Bidding Act\n\nof 1974 until the contract has been fully executed by both the\n\nbidder and the awarding public agency.\n\nB. Except as otherwise provided by law, within the period of\n\ntime specified in subsection A of this section, the following shall\n\nbe provided by the contractor to the awarding public agency for\n\npublic construction contracts exceeding One Hundred Thousand Dollars\n\n($100,000.00) or construction management trade contracts or\n\nsubcontracts exceeding Fifty Thousand Dollars ($50,000.00):\n\n1. A bond complying with the provisions of Section 1 of this\n\ntitle;\n\n2. A bond in a sum equal to the contract price, with adequate\n\nsurety, for the benefit of the state, on behalf of the awarding\n\npublic agency, in a sum equal to the contract price, to ensure the\n\nproper and prompt completion of the work in accordance with the\n\nprovisions of the contract and bidding documents;\n\n3. A bond in a sum equal to the contract price for the benefit\n\nof the state, on behalf of the awarding public agency, to protect\n\nthe awarding public agency against defective workmanship and\n\nmaterials for a period of one (1) year after acceptance of the\n\nproject, except when the awarding public agency is the Department of\n\nTransportation or the Oklahoma Turnpike Authority, in such case the\n\nperiod shall be for one (1) year after project completion; and\n\n4. Public liability and workers' compensation insurance during\n\nconstruction in reasonable amounts. A public agency may require the\n\ncontractor to name the public agency and its architects or\n\nengineers, or both, as an additional assured under the public\n\nliability insurance, which requirement, if made, shall be\n\nspecifically set forth in the bidding documents.\n\nC. If the contractor needs additional time in which to obtain\n\nthe bond required pursuant to subsection B of this section, the\n\ncontractor may request and the awarding agency may allow the\n\ncontractor an additional sixty (60) days in which to obtain the\n\nbond.\n\nD. 1. After the award of a contract, but prior to its\n\nexecution, an awarding public agency, upon discovery of an\n\nadministrative error in the award process that would void an\n\notherwise valid award, may suspend the time of execution of the\n\ncontract. The agency may rescind the award and readvertise for\n\nbids, or may direct correction of the error and award the contract\n\nto the lowest responsible bidder, whichever shall be in the best\n\ninterests of the state.\n\n2. If the awarding public agency has a governing body, the\n\nagency shall, at the next regularly scheduled public business\n\nmeeting of the governing body of the agency, upon the record,\n\npresent to the governing body that an error has been made in the\n\naward process and shall state the nature of the error. The\n\ngoverning body, upon presentation of the facts of the error, may\n\nrescind the award and readvertise for bids, or may direct correction\n\nof the error and award the contract to the lowest responsible\n\nbidder, whichever shall be in the best interests of the state.\n\nE. No public agency shall require for any public construction\n\nproject, nor shall any general contractor submit a project bid based\n\non acquiring or participating in, any wrap-up, wrap-around, or\n\ncontrolled insurance program. For the purposes of this subsection,\n\n\"wrap-up, wrap-around, or controlled insurance program\" means any\nible\n\nbidder, whichever shall be in the best interests of the state.\n\nE. No public agency shall require for any public construction\n\nproject, nor shall any general contractor submit a project bid based\n\non acquiring or participating in, any wrap-up, wrap-around, or\n\ncontrolled insurance program. For the purposes of this subsection,\n\n\"wrap-up, wrap-around, or controlled insurance program\" means any\n\ninsurance program that has the effect of disabling or rendering\n\ninapplicable any workers' compensation, commercial general\n\nliability, builders' risk, completed operations, or excess liability\n\ninsurance coverage carried by a subcontractor that is engaged or to\n\nbe engaged on a public construction project unless this is a cost\n\nsavings to the public or the need exists for a specialized or\n\ncomplex insurance program and shall not apply to contracts less than\n\nSeventy-five Million Dollars ($75,000,000.00).\n\nF. This act shall not apply to the public construction projects\n\nof constitutional agencies which had authorized a wrap-up, wrap-\n\naround, or controlled insurance program on or before April 11, 2000.","path":["OK Code","Title 61"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os61.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"4b33a6969572659191ff0f4abf6017bad4d911589ed93b03c37b669e23371e1c","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-61-61-112","next":"us-ok/okla.-stat.-tit.-61-61-113.1"},"notice":"GroundRules: Original legal text. Not legal advice."}