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What's New: Advocacy

SFAA and APCIA Obtain Bonding Requirements in North Carolina P3 Bill

Tuesday, August 27, 2019  

SFAA and APCIA Obtain Bonding Requirements in North Carolina P3 Bill

North Carolina HB 206 authorizes the Department of Transportation (DOT) to enter into public-private partnerships (P3) for communication infrastructure projects that are used to support transportation infrastructure. SFAA and APCIA obtained requirements in the new law for the private entity or its contractors to provide performance and payment security in the form of performance bonds and payment bonds that comply with the requirements in the Little Miller Act. Originally, the bill would have allowed the DOT to determine the form and amount of security required, which could have included bonds, letters of credit, parent guarantees, or other instruments that the DOT determines are acceptable.

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