A. 
Except in cases of emergency, all bids or proposals for (1) non-transportation-related construction contracts in excess of $500,000; or (2) transportation-related construction contracts authorized under Code of Virginia, § 33.2-208 et seq., in excess of $250,000 and partially or fully funded by the Commonwealth of Virginia shall be accompanied by a bid bond from a surety company selected by the bidder that is authorized to do business in Virginia, as a guarantee that if the contract is awarded to the bidder, the bidder will enter into the contract for the work mentioned in the bid. The amount of the bid bond shall not exceed 5% of the bid amount.
B. 
For non-transportation-related construction contracts in excess of $100,000 but less than $500,000, prospective contractors shall be prequalified for each individual project in accordance with § 38A-4.2 if bid bond requirements are waived.
C. 
No forfeiture under a bid bond shall exceed the lesser of:
(1) 
The difference between the bid for which the bond was written and the next low bid; or
(2) 
The face amount of the bid bond.
D. 
Nothing in this section shall preclude the Purchasing Agent from requiring bid bonds to accompany bids or proposals for construction contracts anticipated to be less than $500,000 for non-transportation-related projects of $250,000 authorized under Code of Virginia, § 33.2-208 et seq., in excess of $250,000 and partially or fully funded by the Commonwealth of Virginia.
A. 
Except as provided herein, upon the award of any (1) public construction contract exceeding $500,000 to any prime contractor; (2) construction contract exceeding $500,000 to any prime contractor requiring the performance of labor or the furnishing of materials for buildings, structures or other improvements to real property owned or leased by the County; (3) construction contract exceeding $500,000 in which the performance of labor or furnishing of materials will be paid with public funds; or (4) any transportation-related project exceeding $350,000 that is partially or wholly funded by the commonwealth, such contractor shall furnish the following bonds to the County:
(1) 
A performance bond in the sum of the contract amount conditioned upon the faithful performance of the contract in strict conformity with the plans, specifications and conditions of the contract. For transportation-related projects authorized under Code of Virginia, § 33.2-208 et seq., such bond shall be in a form and amount satisfactory to the Purchasing Agent.
(2) 
A payment bond in the sum of the contract amount. The payment bond shall be for the protection of claimants who have and fulfill contracts to supply labor or materials to the prime contractor to whom the contract was awarded, or to any subcontractors, in the prosecution of the work provided for in the contract, and shall be conditioned upon the prompt payment for all material furnished or labor supplied or performed in the prosecution of the work. For transportation-related projects authorized under Code of Virginia, § 33.2-208 et seq., and partially or wholly funded by the commonwealth, such bond shall be in a form and amount satisfactory to the Purchasing Agent. "Labor or materials" includes public utility services and reasonable rentals of equipment, but only for periods when the equipment rented is actually used at the site.
B. 
For non-transportation-related construction contracts in excess of $100,000 but less than $500,000, where the bid bond requirements are waived, prospective contractors shall be prequalified for each individual project in accordance with § 38A-4.2.
C. 
Each bond shall be:
(1) 
Executed by one or more surety companies selected by the contractor that are authorized to do business in Virginia;
(2) 
Made payable to the County; and
(3) 
Filed with the County or a designated office or official thereof.
D. 
Nothing herein shall preclude the Purchasing Agent from Requiring payment or performance bonds for construction contracts below $500,000 for non-transportation-related projects or $350,000 for transportation-related projects authorized under Code of Virginia, § 33.2-208 et seq., and partially or wholly funded by the commonwealth.
E. 
Nothing herein shall preclude the contractor from requiring each subcontractor to furnish a payment bond with surety thereon in the sum of the full amount of the contract with such subcontractor conditioned upon the payment to all persons who have and fulfill contracts that are directly with the subcontractor for performing labor and furnishing materials in the prosecution of the work provided for in the subcontract.
F. 
The performance and payment bond requirements of Subsection A for transportation-related projects that are valued in excess of $250,000 but less than $350,000 may only be waived if the bidder provides satisfactory evidence that a surety company has declined an application from the contractor for a performance or payment bond.
No action against the surety on a performance bond shall be brought unless within five years after the final payment to the contractor pursuant to the terms of the contract. However, if a final certificate of occupancy, or written final acceptance of the project, is issued prior to final payment, the five-year period to bring an action shall commence no later than 12 months from the date of the certificate of occupancy or written final acceptance of the project.
A. 
Any claimant who has a direct contractual relationship with the contractor and who has performed labor or furnished material in accordance with the contract documents in furtherance of the work provided in any contract for which a payment bond has been given, and who has not been paid in full before the expiration of 90 days after the day on which the claimant performed the last of the labor or furnished the last of the materials for which he claims payment, may bring an action on the payment bond to recover any amount due for the labor and material. The obligee named in the bond need not be named a party to the action.
B. 
Any claimant who has a direct contractual relationship with any subcontractor but who has no contractual relationship, express or implied, with the contractor, may bring an action on the contractor's payment bond only if he or she has given written notice to the contractor within 90 days from the day on which the claimant performed the last of the labor or furnished the last of the materials for which he or she claims payment, stating with substantial accuracy the amount claimed and the name of the person for whom the work was performed or to whom the material was furnished. Notice to the contractor shall be served by registered or certified mail, postage prepaid, in an envelope addressed to the contractor at any place where his or her office is regularly maintained for the transaction of business. Claims for sums withheld as retainages with respect to labor performance or materials furnished shall not be subject to the time limitations stated in this subsection.
C. 
Any action on a payment bond must be brought within one year after the day on which the person bringing such action last performed labor or last furnished or supplied materials.
D. 
Any waiver of the right to sue on the payment bond required by this section shall be void unless it is in writing, signed by the person whose right is waived, and executed after such person has performed labor or furnished material in accordance with the contract documents.
A. 
In lieu of a bid, payment or performance bond, a bidder may furnish a certified check, cashier's check or cash escrow in the face amount required for the bond.
B. 
If approved by the County's attorney, a bidder may furnish a personal bond, property bond or bank or savings institution's letter of credit on certain designated funds in the face amount required for the bid, payment or performance bond. Approval shall be granted only upon a determination that the alternative form of security proffered affords protection to the County equivalent to a corporate surety's bond.