Tort liability is a nationwide concern. Virtually every business is exposed to some degree of potential liability, and no business or business owner is immune. There is some relief for those engaged in the construction industry in Oklahoma, however. The Statute of Repose protects certain parties from liability arising from certain conduct involved in the […]
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BID BOND FORFEITURE UNDER PUBLIC COMPETITIVE BIDDING ACT OF 1974.
The Public Competitive Bidding Act of 1974 (“Act”) defines the process for bidding and awarding construction projects by the State of Oklahoma and other state agencies. The Act requires each bidder on a public project to include with its bid a bid security in the amount of 5% of the contractor’s bid. The Act also […]