40 U.S.C. § 3132 — Alternatives to payment bonds provided by Federal Acquisition Regulation
submitted 24 years ago by Pub. L. 107-217 to r/title-40-PUBLIC-BUILDINGS-PROPERTY-AND-WORKS · 119 words · no verdicts yet
For covered contracts over $25,000 and up to $100,000, the Federal Acquisition Regulation must offer alternatives to payment bonds. The contracting officer chooses and identifies the protections the successful offeror must provide.
(a) The Federal Acquisition Regulation must provide alternatives to payment bonds as protection for labor and material suppliers under section 3131(a) contracts worth more than $25,000 but not more than $100,000.
(b) The contracting officer must (1) choose one or more of those protections for the awarded offeror to submit to the Federal Government for suppliers' protection, and (2) state the chosen protections in the solicitation.
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.
The contracting officer for a contract shall—
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
specify in the solicitation of offers for the contract the payment protections selected.
Source credit: (Pub. L. 107–217, Aug. 21, 2002, 116 Stat. 1148.)
- 2002Enacted · Pub. L. 107-217 · 116 Stat. 1148
A history note hasn’t been published yet. The record shows enactment by Pub. L. 107-217 on 2002-08-21.
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