Substitution of assets.

Federal Acquisition Regulations System 1 2023-10-01 2023-10-01 false Substitution of assets. 28.203-2 Section 28.203-2 Federal Acquisition Regulations System FEDERAL ACQUISITION REGULATION GENERAL CONTRACTING REQUIREMENTS BONDS AND INSURANCE Sureties and Other Security for Bonds 28.203–2 Substitution of assets. An individual surety may request the Government to accept a substitute asset for that currently pledged by submitting a written request, including a revised SF 28, to the responsible contracting officer. Following the requirements set forth in 28.203–1, the contracting officer may agree to the substitution of assets upon determining that the substitute assets to be pledged are adequate to protect the outstanding bond or guarantee obligations. [86 FR 3685, Jan. 14, 2021]