52.228-16

Full Text

As prescribed in, insert a clause substantially as follows: 28.103-4

Performance and Payment Bonds-Other Than Construction (Nov 2006)

(End of clause)

. As used in this clause- (a) Definitions "Original contract price" means the award price of the contract or, for requirements contracts, the price payable for the estimated quantity; or, for indefinite-quantity contracts, the price payable for the specified minimum quantity. Original contract price does not include the price of any options, except those options exercised at the time of contract award.

The Contractor shall furnish a performance bond () for the protection of the Government in an amount equal topercent of the original contract price and a payment bond) in an amount equal topercent of the original contract price. (b) Standard Form 1418 Standard Form 1416 _______ ______

The Contractor shall furnish all executed bonds, including any necessary reinsurance agreements, to the Contracting Officer, withindays, but in any event, before starting work. (c) ________

The Government may require additional performance and payment bond protection if the contract price is increased. The Government may secure the additional protection by directing the Contractor to increase the penal amount of the existing bonds or to obtain additional bonds. (d)

The bonds shall be in the form of firm commitment, supported by corporate sureties whose names appear on the list contained in Treasury Department Circular 570, individual sureties, or by other acceptable security such as postal money order, certified check, cashier's check, irrevocable letter of credit, or, in accordance with Treasury Department regulations, certain bonds or notes of the United States. Treasury Circular 570 is published in the, or may be obtained from the: (e) Federal Register U.S. Department of the Treasury, Financial Management Service, Surety Bond Branch, 3700 East West Highway, Room 6 F01 Hyattsville, MD 20782. Or via the internet at. http://www.fms.treas.gov/c570/

(July2000). As prescribed in, substitute the following paragraphs (b) and (d) for paragraphs (b) and (d) of the basic clause: Alternate I 28.103-4

(b) The Contractor shall furnish a performance bond () for the protection of the Government in an amount equal topercent of the original contract price. Standard Form 1418 ______

(d) The Government may require additional performance bond protection if the contract price is increased. The Government may secure the additional protection by directing the Contractor to increase the penal amount of the existing bond or to obtain an additional bond.