[Code of Federal Regulations]
[Title 48, Volume 1]
[Revised as of October 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 48CFR28.103-3]

[Page 534]
 
            TITLE 48--FEDERAL ACQUISITION REGULATIONS SYSTEM
 
                CHAPTER 1--FEDERAL ACQUISITION REGULATION
 
PART 28_BONDS AND INSURANCE--Table of Contents
 
           Subpart 28.1_Bonds and Other Financial Protections
 
Sec.  28.103-3  Payment bonds.

    (a) A payment bond is required only when a performance bond is 
required, and if the use of payment bond is in the Government's 
interest.
    (b) When a contract price is increased, the Government may require 
additional bond protection in an amount adequate to protect suppliers of 
labor and material.

[48 FR 42286, Sept. 19, 1983, as amended at 61 FR 39213, July 26, 1996]