[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: 48CFR28.106-2]



[Page 554]

 

            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. 28.106-2  Substitution of surety bonds.



    (a) A new surety bond covering all or part of the obligations on a 

bond previously approved may be substituted for the original bond if 

approved by the head of the contracting activity, or as otherwise 

specified in agency regulation.

    (b) When a new surety bond is approved, the contracting officer 

shall notify the principal and surety of the original bond of the 

effective date of the new bond.



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