Regulations last checked for updates: Nov 22, 2024

Title 48 - Federal Acquisition Regulations System last revised: Nov 15, 2024
37.302 - 37.302 Bonds or other security.

When a contract is solely for dismantling, demolition, or removal of improvements, 40 U.S.C. chapter 31, subchapter III, Bonds, (see 28.102) does not apply. However, the contracting officer may require the contractor to furnish a performance bond or other security (see 28.103) in an amount that the contracting officer considers adequate to (a) ensure completion of the work, (b) protect property to be retained by the Government, (c) protect property to be provided as compensation to the contractor, and (d) protect the Government against damage to adjoining property.

[60 FR 49722, Sept. 26, 1995, as amended at 70 FR 57455, Sept. 30, 2005; 79 FR 24213, Apr. 29, 2014]
authority: 40 U.S.C. 121(c); 10 U.S.C. chapter 4 and 10 U.S.C. chapter 137 legacy provisions (see 10 U.S.C. 3016); and 51 U.S.C. 20113.
source: 48 FR 42365, Sept. 19, 1983, unless otherwise noted.
cite as: 48 CFR 37.302