40 USC 3132 - Alternatives to payment bonds provided by Federal Acquisition Regulation

U.S Code last checked for updates: Nov 22, 2024

§ 3132.

Alternatives to payment bonds provided by Federal Acquisition Regulation

(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.

(Pub. L. 107–217, Aug. 21, 2002, 116 Stat. 1148.)

cite as: 40 USC 3132