South Carolina § 11-35-5250 - Progress payments and letters of credit.
Full text of South Carolina South Carolina Code of Laws § 11-35-5250 — Progress payments and letters of credit., with citation guidance and answers to common questions.
§ 11-35-5250. Progress payments and letters of credit.
(1) Progress Payments. The chief procurement officers may make special provisions for progress payments and letters of credit, as deemed reasonable to assist minority businesses to carry out the terms of a state contract pursuant to regulations which may be promulgated by the board.
(2) Letter of Contract Award. When a minority business firm certified by the Department of Revenue receives a contract with the State, the appropriate chief procurement officer shall furnish a letter, upon request, stating the dollar value and duration of, and other information about the contract, which may be used by the minority firm in negotiating lines of credit with lending institutions.
HISTORY: 1981 Act No. 148, SECTION 1; 1993 Act No. 181, SECTION 97; 1997 Act No. 153, SECTION 1.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 11-35-5250
What does South Carolina Code of Laws § 11-35-5250 cover?
Section 11-35-5250 ("Progress payments and letters of credit.") is part of the South Carolina Code of Laws, the codified statutory law of South Carolina. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Carolina § 11-35-5250?
A common citation format is "South Carolina Code of Laws § 11-35-5250" (South Carolina). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Carolina law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Carolina official source linked on this page or consult a licensed South Carolina attorney.
How does South Carolina § 11-35-5250 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Carolina can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in South Carolina.