R33-11-302. Surety or Performance Bonds for Non-construction Procurement Items

  (1) A surety or performance bond may be required on any non-construction contract if the chief procurement officer or head of a procurement unit with independent procurement authority deems it necessary to guarantee the satisfactory completion of a contract, provided:

  (a) The solicitation contains a statement that a surety or performance bond is required in an amount:

  (i) equal to the amount of the bid, offer, or other response;

  (ii) equal to the project budget or estimated project cost, if the budget or estimated project cost is published in the solicitation documents;

  (iii) equal to the previous contract cost, if the previous contract cost is published in the solicitation documents; or

  (iv) The Invitation for Bids or Request for Proposals contains a statement that a surety or performance bond, in an amount less than the amounts contained in (a), is required; and

  (b) The solicitation contains a detailed description of the work to be performed for which the surety or performance bond is required.

  (2) Surety or Performance Bonds should not be used to unreasonably eliminate competition or be of such unreasonable value as to eliminate competition.