A contractor in Nevada wants to bid on a public works project valued at $850,000. What is the minimum surety bond requirement under Nevada law?
Correct Answer
D) $850,000
Nevada public works projects typically require surety bonds equal to 100% of the contract amount, so an $850,000 project requires an $850,000 bond.
Why This Is the Correct Answer
Nevada public works projects typically require surety bonds equal to 100% of the contract amount, so an $850,000 project requires an $850,000 bond.
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