Substitution of surety bonds.

Federal Acquisition Regulations System 1 2023-10-01 2023-10-01 false Substitution of surety bonds. 28.106-2 Section 28.106-2 Federal Acquisition Regulations System FEDERAL ACQUISITION REGULATION GENERAL CONTRACTING REQUIREMENTS BONDS AND INSURANCE Bonds and Other Financial Protections 28.106–2 Substitution of surety bonds. (a) A new surety bond covering all or part of the obligations on a bond previously approved may be substituted for the original bond if approved by the head of the contracting activity, or as otherwise specified in agency regulation. (b) When a new surety bond is approved, the contracting officer shall notify the principal and surety of the original bond of the effective date of the new bond. [48 FR 42286, Sept. 19, 1983, as amended at 61 FR 39213, July 26, 1996]