Subpart 928.1 - Bonds and Other Financial Protections

Source: 61 FR 41708, Aug. 9, 1996, unless otherwise noted.

928.101 Bid guarantees.

928.101-1 Policy on use.

In addition to the restriction on use of bid guarantees in 48 CFR 28.101-1(a), a bid guarantee may be required only for fixed price or unit price contracts entered into as a result of sealed bidding. They may not be required for negotiated contracts.

928.103 Performance and payment bonds for other than construction contracts.

928.103-3 Payment bonds.

A determination that is in the best interest of the Government to require payment bonds in connection with other than construction contracts may be made by the contracting officer on individual acquisitions.

928.103-70 Review of performance and payment bonds for other than construction.

A performance or payment bond, other than an annual bond, shall not antedate the contract to which it pertains.