Maine

For Maine, performance bond threshold is any contract exceeding $125,000; payment bond threshold is any contract exceeding $125,000; bond amount is Both payment and performance bonds in an amount equal to the full contract amount; claim deadline is no action may be commenced after the expiration of one year from the date on which the last of the labor was performed or material was supplied; preliminary notice required is shall have given written notice to the contractor within 90 days from the date on which such claimant performed the last of the labor or furnished or supplied the last of the material for which such claim is made, verified against its source on 2026-08-17.

Values marked our reading are our classification of what the source says — the source does not print them in those words. The quote below is the evidence for each one; judge it yourself.

What the source says

MAINE Bonds Required: Bonds are required in Maine regarding any contract exceeding $125,000 for the construction, alteration or repair of any public building or other public improvement or public work. Both payment and performance bonds in an amount equal to the full contract amount. The performance bond shall be conditioned upon the faithful performance of the contract in accordance with the plans, specifications and conditions thereof. Such bond is solely for the protection of the state or the contracting body awarding the contract. The payment bond shall be solely for the protection of claimants supplying labor or materials to the contractor or the contractor’s subcontractor in the prosecution of the work provided for in the contract. Labor and Material Covered: Labor or material supplied to the contractor or his subcontractor in the prosecution of the work provided for in the contract for the construction, alteration or repair of any public building or other public improvement or public work including highways awarded to any person by the state or by any political subdivision or quasi municipal corporation or by any public authority. The term “material” includes rental of equipment. Notice Required: No notice is required by a claimant having a contractual relationship, express or implied, with the principal contractor before bringing a claim on the bond. A claimant having a direct contractual relationship with a subcontractor of the contractor (but no contractual relationship, express or implied, with such contractor) shall not have the right of action upon such payment bond unless he shall have given written notice to the contractor within 90 days from the date on which such claimant performed the last of the labor or furnished or supplied the last of the material for which such claim is made, stating with substantial accuracy the amount claimed and the name of the party to whom the material was furnished or supplied or for whom the labor was done or performed. Such notice shall be served by registered or certified mail, postage prepaid, in an envelope addressed to the contractor at any place he maintains an office or conducts his business or at his residence. Time for Suit: No suit shall be commenced prior to 90 days from the date on which claimant furnished the last of the labor or material for which such claim is made and no action may be commenced after the expiration of one year from the date on which the last of the labor was performed or material was supplied for the payment of which such action is brought. Every action shall be brought in the county where the construction, alteration or repair of the public building, improvement or work is located. Prompt Payment Act: (10 M.R.S.A. §§1111-1120). Maine’s Prompt Payment Act protects subcontractors by setting forth payment deadlines for project owners and contractors on both residential and commercial construction jobs on real estate. An owner must pay the contractor strictly in accordance with the terms of the construction contract; and except as otherwise agreed, payment must be made within 20 days after the end of the interim billing period or of the final billing on the project. Except as otherwise agreed, late payments incur interest at a statutory rate. Then, a contractor must pay a subcontractor within seven days of receipt of any payments from the owner related to that subcontractor’s work and materials or within seven days of receiving the subcontractor’s invoice, whichever is later. Late payments are subject to statutory interest rates. Exceptions are made, allowing for withholding of payment, for good faith disputes arising under the contract. If arbitration or litigation is commenced and it is found that an owner, contractor or subcontractor failed to comply with the payment terms of the Act, then the arbitrator or court shall award as a penalty 1 percent per month for all sums wrongfully withheld, which penalty is in addition to what other damages are established. In addition, the substantially prevailing party to any proceeding to recover payment covered by the Act must be awarded reasonable attorney’s fees and expenses. The Act does not apply to contracts entered into by the Department of Transportation. Contracts Excluded: Under $125,000. Penalty for Failure to Take Bond: No special statutory provision. Statutory Citation: Maine Revised Statutes, Title 14, Chapter 205, Subchapter 3, §871.

— fullertonlaw.com, retrieved 2026-08-17

Source

• fullertonlaw.comhttps://fullertonlaw.com/50-state-summary-payment-bond-law

Last verified against source: 2026-08-17. Due for re-check by 2027-08-17. This page as Markdown · OKF bundle · full dataset as JSON.