[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: 48CFR28.203-4]

[Page 541]
 
            TITLE 48--FEDERAL ACQUISITION REGULATIONS SYSTEM
 
                CHAPTER 1--FEDERAL ACQUISITION REGULATION
 
PART 28_BONDS AND INSURANCE--Table of Contents
 
           Subpart 28.2_Sureties and Other Security for Bonds
 
Sec.  28.203-4  Substitution of assets.

    An individual surety may request the Government to accept a 
substitute asset for that currently pledged by submitting a written 
request to the responsible contracting officer. The contracting officer 
may agree to the substitution of assets upon determining, after 
consultation with legal counsel, that the substitute assets to be 
pledged are adequate to protect the outstanding bond or guarantee 
obiligations. If acceptable, the substitute assets shall be pledged as 
provided for in subpart 28.2.

[54 FR 48988, Nov. 28, 1989]