FEDERAL · 40 U.S.C. · Chapter 31
Alternatives to payment bonds provided by Federal Acquisition Regulation
Current through Pub. L. 119-102
(a)In General.—The Federal Acquisition Regulation shall provide alternatives to payment bonds as payment protections for suppliers of labor and materials under contracts referred to in section 3131(a) of this title that are more than $25,000 and not more than $100,000.
(b)Responsibilities of Contracting Officer.—The contracting officer for a contract shall—
(1)select, from among the payment protections provided for in the Federal Acquisition Regulation pursuant to subsection (a), one or more payment protections which the offeror awarded the contract is to submit to the Federal Government for the protection of suppliers of labor and materials for the contract; and
(2)specify in the solicitation of offers for the contract the payment protections selected.
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40 U.S.C. § 3132 (Alternatives to payment bonds provided by Federal Acquisition Regulation) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Related
§ 3131
40 U.S.C. § 3131
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History
(Pub. L. 107–217, Aug. 21, 2002, 116 Stat. 1148.)