[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: 48CFR28.203-7]



[Page 561]

 

            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 in the Excluded Parties List System. (See 9.404.)

    (d) Contracting officers shall not accept the bonds of individual 

sureties whose names appear in the Excluded Parties List System (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; 

69 FR 76349, Dec. 20, 2004]