Code of Federal Regulations · Section
§ 852.228-70 — 852.228-70 Bond Premium Adjustment
48 C.F.R. § 852.228-70
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As prescribed in 828.106-70, insert the following clause:
When net changes in original contract price affect the premium of a Corporate Surety Bond by $5 or more, the Government, in determining the basis for final settlement, will provide for bond premium adjustment computed at the rate shown in the bond.
Authorizing Statute
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Chief Acquisition Officers and senior procurement executives41 U.S.C. § 1702
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Functions and authority41 U.S.C. § 1303
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Administrative40 U.S.C. § 121
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General authority41 U.S.C. § 1121