Or. Admin. Code § 812-003-0154

Current through Register Vol. 63, No. 12, December 1, 2024

Section 812-003-0154 - Construction Flagger Bonds

(1) A properly executed construction flagger bond must:

(a) Be signed by an authorized agent of the surety or by one having power of attorney; must bear a bond number; and must be filed within the time stated on the bond.

(b) Be in the form adopted by the Construction Contractors Board as the "Construction Contractors Board Commercial Surety Bond" dated July 1, 2017.

(c) Be filed with the Construction Contractors Board within sixty (60) days from the date the bond is executed by the surety.

(2) If a complaint is filed against a licensee for work done during the work period of a contract entered while the security required under ORS 701.068 and 701.470 is in effect, the security must be held until final disposition of the complaint.

(3) Bond documents received at the agency office from a surety company or agent via electronic facsimile or as a PDF file transmitted by e-mail or electronically may be accepted as original documents. The surety must provide the original bond document to the agency upon request.

(4) A construction flagger bond is available only for payments determined by the agency involving construction flaggers.

Or. Admin. Code § 812-003-0154

CCB 2-2018, amend filed 03/27/2018, effective 4/1/2018

Statutory/Other Authority: ORS 670.310 & 701.235

Statutes/Other Implemented: ORS 701.470