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Section 252.228-7004: Bonds or Other Security.

As prescribed in 228.170, use the following provision:

BONDS OR OTHER SECURITY (DEC 1991)

    (a) Offerors shall furnish a bid guarantee in the amount of $_________ with their bids. The offeror receiving notice of award shall furnish-

      (1) A performance bond in the penal amount of $_________; and

      (2) Payment in full of any sum due the Government.

    (b) The Contractor shall furnish the performance bond to the Contracting Officer within _____ days after receipt of the notice of award. The Contracting Officer will not issue the notice to proceed until receipt of an acceptable performance bond and payment of any sum due the Government.

    (c) Bonds supported by sureties whose names appear on the list contained in Treasury Department Circular 570 are acceptable. Performance bonds from individual sureties are acceptable if each person acting as a surety provides a SF 28, Affidavit of Individual Surety, and a pledge of assets acceptable to the Contracting Officer.

(End of provision)




 
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