Maryland Code, STATE FINANCE AND PROCUREMENT 13-227
Terms Used In Maryland Code, STATE FINANCE AND PROCUREMENT 13-227
(b) A bid, performance, or payment bond that is provided by a subcontractor under subsection (a) of this section shall be accepted by the prime contractor if the bond would be accepted by the State and provided by:
(1) a surety company authorized to do business in the State; or
(2) the Maryland Small Business Development Financing Authority established in Title 5, Subtitle 5 of the Economic Development Article.
(c) In a solicitation or pre-bid conference for a procurement contract for services, supplies, or construction related services with the State, the procurement agency shall provide notice to all bidders that bid security shall be:
(1) a bond provided by a surety company authorized to do business in this State;
(2) a bond provided by an individual surety that meets the requirements of §§ 13-207 and 13-216 of this subtitle and § 17-104 of this article;
(3) cash; or
(4) another form of security:
(i) authorized by federal or State regulation; or
(ii) that is satisfactory to the unit awarding the contract.