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40 U.S.C. § 3132 - U.S. Code - Unannotated Title 40. Public Buildings, Property, and Works § 3132. Alternatives to payment bonds provided by Federal Acquisition Regulation

Current as of January 01, 2024 | Updated by FindLaw Staff

(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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Cite this article: FindLaw.com - 40 U.S.C. § 3132 - U.S. Code - Unannotated Title 40. Public Buildings, Property, and Works § 3132. Alternatives to payment bonds provided by Federal Acquisition Regulation - last updated January 01, 2024 | https://codes.findlaw.com/us/title-40-public-buildings-property-and-works/40-usc-sect-3132/

Read this complete 40 U.S.C. § 3132 - U.S. Code - Unannotated Title 40. Public Buildings, Property, and Works § 3132. Alternatives to payment bonds provided by Federal Acquisition Regulation on Westlaw

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