Or. Admin. R. 177-038-0250

Current through Register Vol. 63, No. 8, August 1, 2024

Section 177-038-0250 - Performance Security

For each Major Procurement Contractor shall deliver performance security to the Lottery of the type, in the amount and by the date specified in the Contract, pursuant to ORS 461.430. Performance security must be issued or held by a surety, financial institution, insurer, escrow agent, or other entity or individual authorized to conduct business in Oregon, and acceptable to the Commission, and may include, but is not limited to, a performance bond, an irrevocable letter of credit, a certified check, or cash.

LOTT 8-2018, adopt filed 09/28/2018, effective 10/1/2018

Statutory/Other Authority: ORS Chapter 461 & Oregon Constitution, Article XV, §4(4)

Statutes/Other Implemented: ORS 461.400, ORS 461.410, ORS 461.420, ORS 461.430 & ORS 461.440