(a) No act of or agreement between a contracting body, a contractor or a surety shall reduce the period of time for giving notice under N.C. Gen. Stat. § 44A-27(b) or commencing action under N.C. Gen. Stat. § 44A-28(b) or otherwise reduce or limit the liability of the contractor or surety as prescribed in this Article.

(b) Every bond given by a contractor to a contracting body pursuant to this Article shall be conclusively presumed to have been given in accordance herewith, whether or not such bond be so drawn as to conform to this Article. This Article shall be conclusively presumed to have been written into every bond given pursuant thereto. (1973, c. 1194, s. 1.)