[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: 48CFR28.203-4]



[Page 560]

 

            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]