Pennsylvania Code (Last Updated: April 5, 2016) |
Title 12. COMMERCE, TRADE AND LOCAL GOVERNMENT |
PART I. General Administration |
Subpart D. Housing Finance Agency |
Chapter 31. Housing Finance Agency |
SubChapter A. GENERAL PROVISIONS |
Section 31.16. Assurance of completion
Latest version.
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The Agency will require payment and performance bonds equal to 100% of the contract price, including liquidated damages or penalties for failure to complete construction by the completion date, or an irrevocable letter of credit or pledged securities equal to 25% to 50% of the contract price, or such other amounts of security acceptable to the Agency.