Tennessee Textbook Publisher Performance Surety Bond
The Tennessee State Textbook Commission and Department of Education requires each publishing company to post a performance bond in accordance with Tennessee Annotated Code 49-6-2203 (j). The bond must be in an amount not less than $2, 000 but not to exceed $10,000 and it must be in effect for a 6 year term. By definition a textbook is any medium or manual of instruction that contains a systematic presentation of the principles of a subject and that constitutes a mjor instructional vehicle for that subject.
What is a Tennessee (TN) Textbook Publisher Performance Bond?
The requirement of Textbook Publisher Performance Bonds is required of any publisher wishing to provide textbooks in the State of Tennessee and guarantees that the manufacture, binding and content of the books will meet the requirements stated in the contract they are being awarded. Each year the TN State Textbook Commission puts out certain requests to bid for textbooks by scholastic topic. Publishers must submit a bid bond of not less than $1,000 but not to exceed $10,000 along with their proposal. If awarded, they will be required to post the TN Textbook Publishers Performance Bond.
Tennessee (TN) Textbook Publisher Performance Bond amount required?
Effective Jan 1 2015, as per TN Annotated Code 49-6-2203 (j), the State has amended the required bond amount to be a minimum of $2,000 but not to exceed a maximum of $10,000.
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