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VAAR PART 828 - BONDS AND INSURANCE


PART 828 - BONDS AND INSURANCE


PART 828--BONDS AND INSURANCE

TABLE OF CONTENTS

SUBPART 828.1--BONDS

§828.101

Bid guarantees.

§828.101-2

Contract clause.

§828.101-70

Safekeeping and return of bid guarantee.

§828.106-6

Furnishing information.

§828.106-70

Bond premium adjustment.

SUBPART 828.2--SURETIES

§828.202

Acceptable sureties.

§828.202-1

Corporate sureties.

§828.203

Options in lieu of sureties.

§828.203-1

United States bonds or notes.

§828.203-2

Certified or cashier's check, bank drafts, money orders, or currency.

§828.203-7

Exclusion of individual sureties.

SUBPART 828.3--INSURANCE

§828.306

Insurance under fixed-price contracts.

SUBPART 828.71--INDEMNIFICATION OF CONTRACTORS, MEDICAL RESEARCH OR DEVELOPMENT CONTRACTS

§828.7100

Scope of subpart.

§828.7101

General.

§828.7102

Extent of indemnification.

§828.7103

Financial protection.

PART 828 - BONDS AND INSURANCE

SUBPART 828.1 - BONDS AND OTHER FINANCIAL PROTECTIONS

§828.101   Bid guarantees.

§828.101-2   Contract clause.

Where a bid bond is required for supplies or services, the phrase "any cost of acquiring the work" in paragraph (e) of the BID GUARANTEE clause in FAR 52.228-1 may be modified to refer to the cost of "supplies," "services," etc.

§828.101-70   Safekeeping and return of bid guarantee.

§828.106-6   Furnishing information.

For all contracts except contracts awarded by the Office of Facilities Management, the head of the contracting activity, as defined in §802.100, shall be the Department designee referenced in FAR 28.106-6(c) to furnish copies of payment bonds to requestors. For contracts awarded by the Office of Facilities Management, the Office of Facilities Management contracting officer shall be the Department designee.

§828.106-70   Bond premium adjustment.

When performance and payment bonds are required, the contract will contain the clause prescribed in §852.228-70.

SUBPART 828.2 - SURETIES AND OTHER SECURITY FOR BONDS

§828.202   Acceptable sureties.

§828.202-1   Corporate sureties.

The contracting officer will ensure that corporate sureties offered for a bond in connection with the procurement of supplies or services (including construction) appear on the list of approved corporate sureties contained in the Treasury Department Circular 570, and that the amount of bond is not in excess of the underwriting limits stated in that list. The contracting officer will further ensure that the surety remains on the Treasury Department circular approved list through the active life of the contract by reviewing all circular supplements published in the Federal Register and elsewhere. When an active surety is terminated and removed from the list, the contracting officer will ensure that new bonding is secured by the contractor for the uncompleted work under the contract at no cost to the Government.

§828.203   Options in lieu of sureties.

§828.203-1   United States bonds or notes.

Contracting officers, with the exception of those located in the District of Columbia, receiving U.S. bonds or notes in lieu of corporate or individual sureties will forward such bonds and notes to the agent cashier for safekeeping. Contracting officers in the District of Columbia will deposit such bonds and notes with the Treasurer of the United States.

§828.203-2   Certified or cashier's checks, bank drafts, money orders, or currency.

Contracting officers receiving a certified or cashier's check, bank draft, post office money order or currency in lieu of corporate or individual sureties will deposit them with the agent cashier.

Exclusion of individual sureties.

The Deputy Assistant Secretary for Acquisition and Materiél Management is delegated authority to make the determinations referenced in FAR 28.203-7 to exclude individuals from acting as surety on bonds and to accept bonds from individuals named on the List of Parties Excluded from Federal Procurement and Nonprocurement Programs.

SUBPART 828.3 - INSURANCE

§828.306   Insurance under fixed-price contracts.

SUBPART 828.71 - INDEMNIFICATION OF CONTRACTORS, MEDICAL RESEARCH OR DEVELOPMENT CONTRACTS

§828.7100   Scope of subpart.

§828.7101   General.

§828.7102   Extent of indemnification.

§828.7103   Financial protection.

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