Code of Federal Regulations · Section
§ 3474.5 — Default
43 C.F.R. § 3474.5
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When the surety makes payment to the Government of any indebtedness due under a lease, the face amount of the surety bond and the surety's liability thereunder shall be reduced by the amount of such payment.
Authorizing Statute
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Congressional declaration of policy43 U.S.C. § 1701