Surety Bonds for Georgia Electrical Contractors
Bid, Performance and Payment Bonds, Georgia Public-Work Bonds (O.C.G.A. 13-10 and 36-91), Lien-Discharge Bonds and the Federal Bond Rules
O.C.G.A. 13-10-20 to 13-10-65, 36-91-50 to 36-91-95, 44-14-364 and 44-14-366 as published on Justia (read 2026-09-20); FAR Part 28 and 52.232-5 as read on acquisition.gov 2026-09-19 · Reviewed 2026-09-21
"Bonding and liquidated damages" is the first task under "Comply with Administrative Requirements" (6 items on each exam). This lesson covers what the three standard construction bonds guarantee, who the three parties are, the Georgia public-work bond statutes (O.C.G.A. 13-10 for state work and 36-91 for county, city and other local-government work — the two are written in parallel), the lien-discharge bond and statutory lien waivers on private work, the federal Bonds statute (the Miller Act) as implemented by FAR Part 28, and how a surety decides whether to write you.
1. A bond is not insurance
- A surety bond is a three-party guarantee: the principal (the contractor) promises to perform or pay; the obligee (the owner, or the public entity) is protected; the surety (an insurer authorized to write surety in Georgia) guarantees the principal's obligation and pays the obligee if the principal defaults.
- The surety expects to be repaid: the principal (and usually its owners personally) signs an indemnity agreement. Insurance spreads expected losses across policyholders; a bond is credit — priced on the contractor's ability to perform and to repay.
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