P&P language.docx

The document outlines the requirements for contractors working on Public Works contracts in Washington and Spokane County. For contracts valued at $35,000 or less, contractors can opt for a 50% retainage instead of a Payment and Performance bond. However, for Public Works contracts over $35,000, contractors are mandated to provide a Performance Bond and Payment Bond to the State of Washington and Spokane County, equal to 100% of the contract price. These bonds ensure the faithful and complete performance of the contract, as well as the payment of all taxes and obligations to laborers and materialmen. The bonds must be executed by a Surety Company approved by the Spokane County Board of County Commissioners and remain in effect for one year after the formal acceptance of the work. The cost of the bonds should be included in the bid price submitted by the contractor.