Ga. Comp. R. & Regs. R. 665-2-11-.11 - Faithful Performance
(1) A bond, or other means of ensuring
faithful performance, may be required on the contractor at the contractor's
expense.
(2) Liquidated damages may
be provided for in the contract, as a means of ensuring faithful performance
from the contractor.
(3) The agency
may hold as a retainage a percentage of the contract value to be remitted upon
final acceptance by the agency.
(4)
The agency may withhold final payment contingent on acceptance of the final
deliverable.
(5) Performance-based
payments may be utilized.
Notes
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