[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: 48CFR28.203-7]

[Page 542]
 
            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.  28.203-7  Exclusion of individual sureties.

    (a) An individual may be excluded from acting as a surety on bonds 
submitted by offerors on procurement by the executive branch of the 
Federal Government, by the acquiring agency's head or designee utilizing 
the procedures in subpart 9.4. The exclusion shall be for the purpose of 
protecting the Government.
    (b) An individual may be excluded for any of the following causes:
    (1) Failure to fulfill the obligations under any bond.
    (2) Failure to disclose all bond obligations.
    (3) Misrepresentation of the value of available assets or 
outstanding liabilities.
    (4) Any false or misleading statement, signature or representation 
on a bond or affidavit of individual suretyship.
    (5) Any other cause affecting responsibility as a surety of such 
serious and compelling nature as may be determined to warrant exclusion.
    (c) An individual surety excluded pursuant to this subsection shall 
be included on the List of Parties Excluded from Federal Procurement and 
Nonprocurement Programs. (See 9.404.)
    (d) Contracting officers shall not accept the bonds of individual 
sureties whose names appear on the List of Parties Excluded from Federal 
Procurement and Nonprocurement Programs (see 9.404) unless the acquiring 
agency's head or a designee states in writing the compelling reasons 
justifying acceptance.
    (e) An exclusion of an individual surety under this subsection will 
also preclude such party from acting as a contractor in accordance with 
subpart 9.4.

[54 FR 48988, Nov. 28, 1989, as amended at 60 FR 33066, June 26, 1995]

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