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FAR | RIN: 9000-AN39 | Publication ID: Spring 2020 |
Title: Federal Acquisition Regulation (FAR); FAR Case 2017-003; Individual Sureties | |
Abstract:
DoD, GSA, and NASA are issuing a final rule to amend the Federal Acquisition Regulation (FAR) to change the kinds of assets that individual sureties must use as security for their individual surety bonds. This change implements section 874 of the National Defense Authorization Act (NDAA) for FY 2016 (Pub. L. 114-92), codified at 31 U.S.C. 9310, Individual Sureties. Individual sureties will no longer be able to pledge real property, corporate stocks, corporate bonds, or irrevocable letters of credit. The requirements of 31 U.S.C. 9310 are intended to strengthen the assets pledged by individual sureties, thereby mitigating risk to the Government. |
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Agency: DOD/GSA/NASA (FAR)(FAR) | Priority: Other Significant |
RIN Status: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Final Rule Stage |
Major: No | Unfunded Mandates: No |
EO 13771 Designation: Other | |
CFR Citation: 48 CFR 28 48 CFR 52 | |
Legal Authority: 40 U.S.C. 121(c) 10 U.S.C. 137 51 U.S.C. 20113 |
Legal Deadline:
None |
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Timetable:
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Regulatory Flexibility Analysis Required: Yes | Government Levels Affected: Federal |
Small Entities Affected: Businesses | Federalism: No |
Included in the Regulatory Plan: No | |
RIN Information URL: www.regulations.gov | Public Comment URL: www.regulations. gov |
RIN Data Printed in the FR: Yes | |
Agency Contact: Zenaida Delgado Procurement Analyst DOD/GSA/NASA (FAR) 1800 F Street, NW, Washington, DC 20405 Phone:202 969-7207 Email: zenaida.delgado@gsa.gov |