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Terms Used In Idaho Code 67-7427

  • Commission: means the Idaho state lottery commission. See Idaho Code 67-7404
  • Contract: A legal written agreement that becomes binding when signed.
  • vendor: means any person who submits a bid, proposal or offer as part of a major procurement for goods or services as defined in subsection (11) of this section. See Idaho Code 67-7404
Each vendor, at the time of executing a contract, shall post a performance bond in a manner and form as required by the commission. The commission may accept other security in lieu of a bond when in its judgment the security is sufficient to guarantee the faithful performance of the contract.