Subpart 928.1.Bonds
Sec.
928.101-1 Policy on use.
928.103-3 Payment bonds.
928.103-70 Review of performance and payment bonds for other than construction.
Subpart 928.3.Insurance
928.301 Policy.
928.370 Service-type insurance policies.
Authority: 42 U.S.C. 7254; 40 U.S.C. 486(c).
Source: 49 FR 12010, Mar. 28, 1984, unless otherwise
noted.
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Subpart 928.1.Bonds
928.101-1 Policy on use.
In addition to the restriction on use of bid guarantees in
FAR 28.101-1(a), a bid guarantee may be required only
for fixed price or unit price contracts entered into as a
result of sealed bidding. They may not be required for
negotiated contracts.
928.103-3 Payment bonds.
A determination that is in the best interest of the
Government to require payment bonds in connection with
other than construction contracts may be made by the
contracting officer on individual acquisitions.
928.103-70 Review of performance and payment bonds for other than construction.
A performance or payment bond, other than an annual
bond, shall not antedate the contract to which it pertains.
[61 FR 41702, Aug. 9, 1996]
Subpart 928.3.Insurance
928.301 Policy.
The DOE policies and procedures for indemnification of DOE contractors are set forth in FAR Part 50 and 950.
(a) Service-type insurance policies are
cost-reimbursement type contracts or subcontracts in
which the insurer provides claim and loss adjustment
services on a cost reimbursement basis, which satisfies
state and Federal insurance requirements.
(b) Service-type insurance policies may be used with
contracting officer approval, when one or more of the
following conditions are present:
(1) Pure risk commercial insurance is not available or, if
available, cost is not considered reasonable;
(2) Inherent risks in the contract are new and a part of the
process of commercialization;
(3) The service-type insurance is needed to implement
jointly funded projects; or
(4) The service-type insurance arrangement is considered in the Government's best interest.