6.0_Bonding_Requirements_24_CFR_PART_85.36.pdf
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- Attached to
- Deland Regional Library Play Yard Walkway
- Solicitation number
- 26-B-55JS
- Issued by
- Volusia County, Florida
About this file
This is a bonding requirements document issued under 24 CFR Part 85.36 by the federal government for grants and cooperative agreements to state, local, and federally recognized Indian tribal governments. The document establishes mandatory bonding compliance requirements that must be verified prior to issuance of the notice to proceed. The bonding requirements apply to construction or facility improvement contracts and subcontracts exceeding the simplified acquisition threshold. Unless the awarding agency has made a determination that its interest is adequately protected under the grantee's or sub-grantee's bonding policy, contractors must provide a bid guarantee equivalent to five percent of the bid price in the form of a bid bond, certified check, or other negotiable instrument accompanying the bid submission.
Contractors are required to provide a performance bond for 100 percent of the contract price to secure fulfillment of all contractual obligations and a payment bond for 100 percent of the contract price to assure payment of all persons supplying labor and material in the execution of the work. These requirements are applicable to the Deland Regional Library Play Yard Walkway project in Florida, which is a federally assisted construction project funded in part through a Community Development Block Grant and Volusa ECHO Grant. The project is subject to Federal Labor Standards including the Davis-Bacon Act, the Copeland Act, Section 3, and M/WBE provisions, with the prime contractor responsible for enforcement of wage compliance and support documentation throughout the project duration.
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Text version
24 CFR PART 85.36 Administrative Requirements for Grants and Cooperative Agreements to State, Local and Federally Recognized Indian Tribal Governments
Compliance with the following bonding requirements is mandatory.
Proof of bonding will be verified prior to issuance of the notice to proceed.
(h) Bonding requirements.
For construction or facility improvement contracts or subcontracts exceeding the simplified acquisition threshold, the awarding agency may accept the bonding policy and requirements of the grantee or sub grantee provided the awarding agency has made a determination that the awarding agency's interest is adequately protected. If such a determination has not been made, the minimum requirements shall be as follows:
(1) A bid guarantee from each bidder equivalent to five percent of the bid price. The bid guarantee shall consist of a firm commitment such as a bid bond, certified check, or other negotiable instrument accompanying a bid as assurance that the bidder will, upon acceptance of his bid, execute such contractual documents as may be required within the time specified.
(2) A performance bond on the part of the contractor for 100 percent of the contract price. A performance bond is one executed in connection with a contract to secure fulfillment of all the contractor's obligations under such contract.
(3) A payment bond on the part of the contractor for 100 percent of the contract price. A payment bond is one executed in connection with a contract to assure payment as required by law of all persons supplying labor and material in the execution of the work provided for in the contract.
https://www.hud.gov/sites/documents/24CFR85-36PROC.PDF
File details come from the government source that posted it. Updated .