(1) When a contract requiring performance security ends, regardless of the reason, the contracting agency shall provide written notification to:

(a) the division, if the contract was established through the State Procurement Bureau; or

(b) the agency's contracting office, if the contract was established under the agency's delegated authority.

(2) This written notification shall be provided:

(a) not later than 30 days after the ending date of the contract; or

(b) if a warranty period that extends beyond the end of the contract term is specified in the contract, not later than 30 days after the ending date of the warranty.

(3) The required notification shall include, at a minimum, the following information:

(a) whether the contract has been successfully performed and, if a warranty is specified in the contract, that no claims are pending under the warranty; and

(b) whether the agency waives all rights and claims to the contract security.

(4) If the contract was not satisfactorily completed, and a claim against the performance security is being considered, timely notification of such a situation shall be made to:

(a) the division, if the contract was established through the State Procurement Bureau; or

(b) the agency's contracting office, if the contract was established under the agency's delegated authority.