Code of Federal Regulations · Section
§ 28.104 — 28.104 Annual Performance Bonds
48 C.F.R. § 28.104
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(a) Annual performance bonds only apply to non-construction contracts. They shall provide a gross penal sum applicable to the total amount of all covered contracts.
(b) When the penal sums obligated by contracts are approximately equal to or exceed the penal sum of the annual performance bond, an additional bond will be required to cover additional contracts.
Authorizing Statute
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Chapter 137 legacy provisions10 U.S.C. § 3016
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Administrative40 U.S.C. § 121
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Powers of the Administration in performance of functions51 U.S.C. § 20113