[Code of Federal Regulations]

[Title 48, Volume 1]

[Revised as of October 1, 2005]

From the U.S. Government Printing Office via GPO Access

[CITE: 48CFR28.104]



[Page 553]

 

            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. 28.104  Annual performance bonds.



    (a) Annual performance bonds only apply to non-construction 

contracts. They shall provide a gross penal sum applicable to the total 

amount of all covered contracts.

    (b) When the penal sums obligated by contracts are approximately 

equal to or exceed the penal sum of the annual performance bond, an 

additional bond will be required to cover additional contracts.