Surety bonds • Oklahoma
Oklahoma Public Works Bonds (61 O.S. §§ 1 and 113): Performance, Payment, and Maintenance
Under the Oklahoma Public Competitive Bidding Act, contractors on public construction contracts over $100,000 must provide a performance bond, a payment bond, and a one-year maintenance bond, each equal to the contract price. Bidders must also post a 5% bid guarantee.
This guide covers the required bonds, who they protect, timing, and cost. Blake Insurance Group is an independent agency and does not give legal advice; a licensed agent can help contractors set up bonding.
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Required bonds
| Bond | Requirement |
|---|---|
| Bid guarantee | 5% of the bid (bid bond, check, or letter of credit) |
| Performance bond | Equal to the contract price |
| Payment bond | Not less than the contract price, under 61 O.S. § 1 |
| Maintenance bond | Equal to the contract price, for one year after acceptance |
Sources: 61 O.S. § 107, 61 O.S. § 113, 61 O.S. § 1.
Thresholds and timing
- Bonds are required on public construction contracts over $100,000, and on construction management trade contracts over $50,000.
- Bonds are due within the contract execution window, generally up to 60 days, with up to 60 more days allowed if needed.
- For ODOT and the Turnpike Authority, the maintenance period runs one year from project completion.
Source: 61 O.S. § 113.
Who the bonds protect
The performance and maintenance bonds protect the public owner. The payment bond protects subcontractors and suppliers of labor, materials, equipment rental, and repair parts (61 O.S. § 1). See our performance bond and payment bond guides.
How much Oklahoma contract bonds cost
Contract bonds are priced as a percentage of the bond amount, commonly about 0.5% to 3% based on the contractor’s finances and experience (NASBP).
Oklahoma public works bond FAQs
When are bonds required on Oklahoma public works?
On public construction contracts over $100,000.
What bonds does Oklahoma require on public projects?
Performance, payment, and one-year maintenance bonds, each equal to the contract price.
How much is the Oklahoma bid guarantee?
5% of the bid.
Related guides
- Oklahoma surety bonds
- Performance bonds
- Payment bonds
- Texas surety bonds
- Surety bonds
- Surety bond cost
- Surety bond cost calculator
- Buy a surety bond online
- South Dakota public works bond
- West Virginia public works bond
- New Mexico public works bond
- Nebraska public works bond
- Kansas public works bond
- Iowa public works bond
Important information
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Cost figures. Published averages and ranges are cited from the sources named, as of the dates shown. They are not quotes and may not reflect your price, which depends on the insurer, the surety, your credit, the bond type, and underwriting.
Availability. Coverage, prices, discounts, and eligibility vary by insurer, state, and applicant, and are subject to underwriting. The issued policy controls.
Your next step
Tell us about your Oklahoma public project, and a licensed agent will help you set up bonding.
