{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/2.2-4338.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/2.2-4338.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/2.2-4338.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/2.2-4338.html"}],"law_id":86516,"edition_id":1,"section_id":86516,"structure_id":12805,"section_number":"2.2-4338","catch_line":"Alternative forms of security","history":"1982, c. 647, \u00a7 11-61; 1989, c. 260; 1991, c. 574; 1992, c. 765; 1996, cc. 77, 827; 2001, c. 844; 2013, c. 141.","full_text":"A\n\nIn lieu of a bid, payment, or performance bond, a bidder may furnish a certified check, cashier’s check, or cash escrow in the face amount required for the bond.B\n\nIf approved by the Attorney General in the case of state agencies, or the attorney for the political subdivision in the case of political subdivisions, a bidder may furnish a personal bond, property bond, or bank or savings institution’s letter of credit on certain designated funds in the face amount required for the bid, payment, or performance bond. Approval shall be granted only upon a determination that the alternative form of security proffered affords protection to the public body equivalent to a corporate surety’s bond.C\n\nThe provisions of this section shall not apply to the Department of Transportation.","order_by":null,"text":{"0":{"id":309880,"text":"In lieu of a bid, payment, or performance bond, a bidder may furnish a certified check, cashier’s check, or cash escrow in the face amount required for the bond.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":309881,"text":"If approved by the Attorney General in the case of state agencies, or the attorney for the political subdivision in the case of political subdivisions, a bidder may furnish a personal bond, property bond, or bank or savings institution’s letter of credit on certain designated funds in the face amount required for the bid, payment, or performance bond. Approval shall be granted only upon a determination that the alternative form of security proffered affords protection to the public body equivalent to a corporate surety’s bond.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":309882,"text":"The provisions of this section shall not apply to the Department of Transportation.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B"}},"ancestry":[{"id":12805,"edition_id":1,"name":"Contract Formation and Administration","identifier":"2","label":"article","depth":5,"order_by":1,"parent_id":12752,"metadata":{},"date_created":"2026-06-26 03:43:54","date_modified":"2026-06-26 03:43:54","permalink":{"id":177013,"object_type":"structure","relational_id":12805,"identifier":"2","token":"2.2\/II\/B\/43\/2","url":"\/2.2\/II\/B\/43\/2\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12752,"edition_id":1,"name":"Virginia Public Procurement Act","identifier":"43","label":"chapter","depth":4,"order_by":1,"parent_id":12751,"metadata":{},"date_created":"2026-06-26 03:43:51","date_modified":"2026-06-26 03:43:51","permalink":{"id":176989,"object_type":"structure","relational_id":12752,"identifier":"43","token":"2.2\/II\/B\/43","url":"\/2.2\/II\/B\/43\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12751,"edition_id":1,"name":"Transaction of Public Business","identifier":"B","label":"part","depth":3,"order_by":1,"parent_id":12750,"metadata":{},"date_created":"2026-06-26 03:43:51","date_modified":"2026-06-26 03:43:51","permalink":{"id":176445,"object_type":"structure","relational_id":12751,"identifier":"B","token":"2.2\/II\/B","url":"\/2.2\/II\/B\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12750,"edition_id":1,"name":"Administration of State Government","identifier":"II","label":"subtitle","depth":2,"order_by":1,"parent_id":12749,"metadata":{},"date_created":"2026-06-26 03:43:51","date_modified":"2026-06-26 03:43:51","permalink":{"id":176253,"object_type":"structure","relational_id":12750,"identifier":"II","token":"2.2\/II","url":"\/2.2\/II\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12749,"edition_id":1,"name":"Administration of Government","identifier":"2.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:51","date_modified":"2026-06-26 03:43:51","permalink":{"id":171453,"object_type":"structure","relational_id":12749,"identifier":"2.2","token":"2.2","url":"\/2.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":60713,"structure_id":12805,"section_number":"2.2-4303","catch_line":"Methods of procurement","url":"\/2.2-4303\/","token":"2.2\/II\/B\/43\/2\/2.2-4303","metadata":false},{"id":61675,"structure_id":12805,"section_number":"2.2-4303.01","catch_line":"High-risk contracts; 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penalty for failure to timely complete","url":"\/2.2-4334\/","token":"2.2\/II\/B\/43\/2\/2.2-4334","metadata":false},{"id":84415,"structure_id":12805,"section_number":"2.2-4335","catch_line":"Public construction contract provisions barring damages for unreasonable delays declared void","url":"\/2.2-4335\/","token":"2.2\/II\/B\/43\/2\/2.2-4335","metadata":false},{"id":55647,"structure_id":12805,"section_number":"2.2-4336","catch_line":"Bid bonds; construction contracts","url":"\/2.2-4336\/","token":"2.2\/II\/B\/43\/2\/2.2-4336","metadata":false},{"id":79610,"structure_id":12805,"section_number":"2.2-4337","catch_line":"Performance and payment bonds","url":"\/2.2-4337\/","token":"2.2\/II\/B\/43\/2\/2.2-4337","metadata":false},{"id":86516,"structure_id":12805,"section_number":"2.2-4338","catch_line":"Alternative forms of security","url":"\/2.2-4338\/","token":"2.2\/II\/B\/43\/2\/2.2-4338","metadata":false},{"id":66839,"structure_id":12805,"section_number":"2.2-4339","catch_line":"Bonds on other than construction contracts","url":"\/2.2-4339\/","token":"2.2\/II\/B\/43\/2\/2.2-4339","metadata":false},{"id":54251,"structure_id":12805,"section_number":"2.2-4340","catch_line":"Action on performance bond","url":"\/2.2-4340\/","token":"2.2\/II\/B\/43\/2\/2.2-4340","metadata":false},{"id":65780,"structure_id":12805,"section_number":"2.2-4340.1","catch_line":"Statute of limitations on construction contracts","url":"\/2.2-4340.1\/","token":"2.2\/II\/B\/43\/2\/2.2-4340.1","metadata":false},{"id":85767,"structure_id":12805,"section_number":"2.2-4340.2","catch_line":"Statute of limitations on architectural and engineering contracts","url":"\/2.2-4340.2\/","token":"2.2\/II\/B\/43\/2\/2.2-4340.2","metadata":false},{"id":56940,"structure_id":12805,"section_number":"2.2-4341","catch_line":"Actions on payment bonds; waiver of right to sue","url":"\/2.2-4341\/","token":"2.2\/II\/B\/43\/2\/2.2-4341","metadata":false},{"id":71233,"structure_id":12805,"section_number":"2.2-4342","catch_line":"Public inspection of certain records","url":"\/2.2-4342\/","token":"2.2\/II\/B\/43\/2\/2.2-4342","metadata":false}],"previous_section":{"id":79610,"structure_id":12805,"section_number":"2.2-4337","catch_line":"Performance and payment bonds","url":"\/2.2-4337\/","token":"2.2\/II\/B\/43\/2\/2.2-4337","metadata":false},"next_section":{"id":66839,"structure_id":12805,"section_number":"2.2-4339","catch_line":"Bonds on other than construction contracts","url":"\/2.2-4339\/","token":"2.2\/II\/B\/43\/2\/2.2-4339","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/2.2-4338\/","history_text":"

This law was first created in 1982. The record of its establishment is cataloged in chapter 647 of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1982 \u201cActs\u201d aren\u2019t available online. It has been modified 6 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1989, chapter 260; in 1991, chapter 574; in 1992, chapter 765; in 1996, chapters 77<\/a> and 827<\/a>; in 2001, chapter 844<\/a>; in 2013, chapter 141<\/a>.<\/p>","references":[{"id":54190,"section_number":"2.2-4343","catch_line":"Exemption from operation of chapter for certain transactions","order_by":null,"url":"\/2.2-4343\/"}],"refers_to":false,"permalink":{"id":177227,"object_type":"law","relational_id":86516,"identifier":"2.2-4338","token":"2.2\/II\/B\/43\/2\/2.2-4338","url":"\/2.2-4338\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/2.2-4338\/","token":"2.2\/II\/B\/43\/2\/2.2-4338","dublin_core":{"Title":"Alternative forms of security","Type":"Text","Format":"text\/html","Identifier":"\u00a7 2.2-4338","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> In lieu of a bid, payment, or performance bond<\/span>, a bidder may furnish a certified check, cashier’s check, or cash escrow in the face amount required for the bond<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> If approved by the Attorney General<\/span> in the case of state agencies, or the attorney for the political subdivision in the case of political subdivisions, a bidder may furnish a personal bond<\/span>, property bond<\/span>, or bank or savings institution’s letter of credit on certain designated funds in the face amount required for the bid, payment, or performance bond<\/span>. Approval shall be granted only upon a determination that the alternative form of security proffered affords protection to the public body<\/span> equivalent to a corporate surety<\/span>’s bond<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> The provisions of this section shall not apply to the Department of Transportation. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nALTERNATIVE FORMS OF SECURITY (\u00a7 2.2-4338)\n\nA. In lieu of a bid, payment, or performance bond, a bidder may furnish a\ncertified check, cashier’s check, or cash escrow in the face amount\nrequired for the bond.\n\nB. If approved by the Attorney General in the case of state agencies, or the\nattorney for the political subdivision in the case of political subdivisions, a\nbidder may furnish a personal bond, property bond, or bank or savings\ninstitution’s letter of credit on certain designated funds in the face\namount required for the bid, payment, or performance bond. Approval shall be\ngranted only upon a determination that the alternative form of security\nproffered affords protection to the public body equivalent to a corporate\nsurety’s bond.\n\nC. The provisions of this section shall not apply to the Department of\nTransportation.\n\nHISTORY: 1982, c. 647, \u00a7 11-61; 1989, c. 260; 1991, c. 574; 1992, c. 765; 1996,\ncc. 77, 827; 2001, c. 844; 2013, c. 141.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}