48 C.F.R. § 28.103.3 — Payment bonds.
Federal Acquisition Regulations System 1 2023-10-01 2023-10-01 false Payment bonds. 28.103-3 Section 28.103-3 Federal Acquisition Regulations System FEDERAL ACQUISITION REGULATION GENERAL CONTRACTING REQUIREMENTS BONDS AND INSURANCE Bonds and Other Financial Protections 28.103–3 Payment bonds. (a) A payment bond is required only when a performance bond is required, and if the use of payment bond is in the Government's interest. (b) When a contract price is increased, the Government may require additional bond protection in an amount adequate to protect suppliers of labor and material. [48 FR 42286, Sept. 19, 1983, as amended at 61 FR 39213, July 26, 1996]