Code of Federal Regulations · Section
§ 49.405 — 49.405 Completion By Another Contractor
48 C.F.R. § 49.405
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If the surety does not arrange for completion of the contract, the contracting officer normally will arrange for completion of the work by awarding a new contract based on the same plans and specifications. The new contract may be the result of sealed bidding or any other appropriate contracting method or procedure. The contracting officer shall exercise reasonable diligence to obtain the lowest price available for completion.
Authorizing Statute
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Administrative40 U.S.C. § 121
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Chapter 137 legacy provisions10 U.S.C. § 3016
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Powers of the Administration in performance of functions51 U.S.C. § 20113