Electronic Code of Federal Regulations
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e-CFR data is current as of January 25, 2021 |
Title 48 → Chapter 1 → Subchapter E → Part 28 → Subpart 28.2 → §28.203-4 |
Title 48: Federal Acquisition Regulations System
PART 28—BONDS AND INSURANCE
Subpart 28.2—Sureties and Other Security for Bonds
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]