Texas Government Code 2253.025 – Information From Payment Bond Beneficiary
Current as of: 2024 | Check for updates
|
Other versions
(a) A payment bond beneficiary, not later than the 30th day after the date the beneficiary receives a written request from the prime contractor or a surety on a bond on which a claim is made, shall provide to the contractor or surety:
(1) a copy of any applicable written agreement or purchase order; and
(2) any statement or payment request of the beneficiary that shows the amount claimed and the work performed by the beneficiary for which the claim is made.
(b) If requested, the payment bond beneficiary shall provide the estimated amount due for each calendar month in which the beneficiary performed public work labor or provided public work material.
Terms Used In Texas Government Code 2253.025
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Month: means a calendar month. See Texas Government Code 312.011
- Written: includes any representation of words, letters, symbols, or figures. See Texas Government Code 311.005