Sec. 2. The performance bond shall be in an amount fixed by the governmental unit but not less than 25% of the contract amount, conditioned upon the faithful performance of the contract in accordance with the plans, specifications and terms thereof. The bond shall be solely for the protection of the governmental unit awarding the contract.
Mich. Comp. Laws § 129.202
Performance bond; amount; condition; purpose
Applied in 5 court decisions — leading case In RE v. Pangori & Sons, Inc. (1985)
Most recently applied in Wyandotte Electric Supply Co. v. Electrical Technology Systems, Inc. (May 2016)
1963, Act 213, Eff
How often courts cite this section
Court decisions citing this, by year. The dip in the last several years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the most recent years, so recent citations are undercounted.
Official source: Michigan Legislature. Reproduced from public-domain Michigan statutes; confirm against the official source for the current text. Not legal advice.