Okla. Stat. tit. 61, § 61-113

A. Except as otherwise provided by law, within the period of

time, not to exceed sixty (60) days, specified in the bid notice by

the awarding public agency, a contract embodying the terms set forth

in the bidding documents shall be executed by the awarding public

agency or, where construction management at-risk is the project

delivery method, by the construction manager and the successful

bidder. No bidder shall obtain any property right in a contract

awarded under the provisions of the Public Competitive Bidding Act

of 1974 until the contract has been fully executed by both the

bidder and the awarding public agency.

B. Except as otherwise provided by law, within the period of

time specified in subsection A of this section, the following shall

be provided by the contractor to the awarding public agency for

public construction contracts exceeding One Hundred Thousand Dollars

($100,000.00) or construction management trade contracts or

subcontracts exceeding Fifty Thousand Dollars ($50,000.00):

1. A bond complying with the provisions of Section 1 of this

title;

2. A bond in a sum equal to the contract price, with adequate

surety, for the benefit of the state, on behalf of the awarding

public agency, in a sum equal to the contract price, to ensure the

proper and prompt completion of the work in accordance with the

provisions of the contract and bidding documents;

3. A bond in a sum equal to the contract price for the benefit

of the state, on behalf of the awarding public agency, to protect

the awarding public agency against defective workmanship and

materials for a period of one (1) year after acceptance of the

project, except when the awarding public agency is the Department of

Transportation or the Oklahoma Turnpike Authority, in such case the

period shall be for one (1) year after project completion; and

4. Public liability and workers' compensation insurance during

construction in reasonable amounts. A public agency may require the

contractor to name the public agency and its architects or

engineers, or both, as an additional assured under the public

liability insurance, which requirement, if made, shall be

specifically set forth in the bidding documents.

C. If the contractor needs additional time in which to obtain

the bond required pursuant to subsection B of this section, the

contractor may request and the awarding agency may allow the

contractor an additional sixty (60) days in which to obtain the

bond.

D. 1. After the award of a contract, but prior to its

execution, an awarding public agency, upon discovery of an

administrative error in the award process that would void an

otherwise valid award, may suspend the time of execution of the

contract. The agency may rescind the award and readvertise for

Oklahoma Statutes - Title 61. Public Buildings and Public Works Page 33

bids, or may direct correction of the error and award the contract

to the lowest responsible bidder, whichever shall be in the best

interests of the state.

2. If the awarding public agency has a governing body, the

agency shall, at the next regularly scheduled public business

meeting of the governing body of the agency, upon the record,

present to the governing body that an error has been made in the

award process and shall state the nature of the error. The

governing body, upon presentation of the facts of the error, may

rescind the award and readvertise for bids, or may direct correction

of the error and award the contract to the lowest responsible

bidder, whichever shall be in the best interests of the state.

E. No public agency shall require for any public construction

project, nor shall any general contractor submit a project bid based

on acquiring or participating in, any wrap-up, wrap-around, or

controlled insurance program. For the purposes of this subsection,

"wrap-up, wrap-around, or controlled insurance program" means any
ible

bidder, whichever shall be in the best interests of the state.

E. No public agency shall require for any public construction

project, nor shall any general contractor submit a project bid based

on acquiring or participating in, any wrap-up, wrap-around, or

controlled insurance program. For the purposes of this subsection,

"wrap-up, wrap-around, or controlled insurance program" means any

insurance program that has the effect of disabling or rendering

inapplicable any workers' compensation, commercial general

liability, builders' risk, completed operations, or excess liability

insurance coverage carried by a subcontractor that is engaged or to

be engaged on a public construction project unless this is a cost

savings to the public or the need exists for a specialized or

complex insurance program and shall not apply to contracts less than

Seventy-five Million Dollars ($75,000,000.00).

F. This act shall not apply to the public construction projects

of constitutional agencies which had authorized a wrap-up, wrap-

around, or controlled insurance program on or before April 11, 2000.