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Alaska Public Time Frames

Step 1: Bond Claim

Notice to the prime contractor within 90 days from last furnishing

Step 2: Suit Against Bond

After 90 days from last furnishing but within 1 year of final settlement of the contract.

Bond Bits

* Contracts of less than $100,000 are excluded from bond requirements.
* Amount of Bond: 50% of a contract price under $1,000,000; 40% between $1,000,000 and $5,000,000; whenever the total amount payable by the terms of the contract is more than $5,000,000 the payment bond is in the sum of $2,500,000.