Oklahoma State has revised requirements currently in place regarding water supply construction permits. The Oklahoma Department of Environmental Quality has adopted modified regulations for public water supply construction which requires suppliers to obtain a performance bond or another form of guarantee to protect against equipment failure. The surety bond must be payable to the permittee in a quantity equivalent to the contract price for installation/equipment including an additional ten percent. The bond must be active for one year after the equipment is operating as oppose to the previous requirements which required the bond to be active for five years.
Eric is the Chief Marketing Officer of JW Surety Bonds. With years of experience in the surety industry, he is also a contributing author to the surety bond blog. He has held a range of different roles within the surety industry, from agent assistant to bond issuer, which gives him a unique insider perspective on surety related topics.