Federal Acquisition Regulation; Performance and Payment Bonds
other · US Department of Defense · Rule · Published 1996-07-26 · Effective 1996-09-24 · 61 FR 39212
Document
Document number
96-18508
Federal Register citation
61 FR 39212
CFR reference
48 CFR 28
Type
Rule
Action
Final rule.
Category
other
Sub-agency
US Department of Defense
Publication date
1996-07-26
Effective date
1996-09-24
DOD docket
FAC 90-40
Abstract
The Civilian Agency Acquisition Council (CAAC) and the Defense Acquisition Regulations Council (DARC) have agreed to a final rule amending the Federal Acquisition Regulation (FAR) to further standardize policies governing bonding. Two new standard clauses are added for use when performance or payment bonds are required, and a new Standard Form 1418, Performance and Payment Bonds--Other Than Construction, is added. This regulatory action was not subject to Office of Management and Budget review under Executive Order 12866, dated September 30, 1993, and is not a major rule under 5 U.S.C. 804.