13 C.F.R. § 115.64

Current through September 30, 2024
Section 115.64 - Timeliness requirement

There must be no Execution or approval of a bond by a PSB Surety after commencement of work under a Contract unless the Surety obtains written approval from the D/SG. To apply for such approval, the Surety must submit a completed "Surety Bond Guarantee Agreement Addendum" (SBA Form 991), together with the evidence and certifications described in § 115.19(f)(1)(ii) . For purposes of this section, work has commenced under a Contract when a Principal takes any action related to the contract or bond that would have exposed its Surety to liability under applicable law had a bond been Executed (or approved, if the Surety is legally bound by such approval) at the time.

13 C.F.R. §115.64

61 FR 3271, Jan. 31, 1996, as amended at 87 FR 48084, Aug. 8, 2022
87 FR 48084, 9/7/2022