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FAC Number: 2024-05
Effective Date: 05/22/2024

52.228-17 Individual Surety—Pledge of Assets (Bid Guarantee).

52.228-17 Individual Surety—Pledge of Assets (Bid Guarantee).

As prescribed in 28.203-4 (a), insert the following provision:

Individual Surety—Pledge of Assets (Feb 2021)

(a)Offerors shall obtain from each person acting as an individual surety on a bid guarantee—

(1)A pledge of assets that meets the eligibility, valuation, and security requirements described in the Federal Acquisition Regulation (FAR) 28.203-1; and

(2)Standard Form 28, Affidavit of Individual Surety.

(b)The Offeror shall include with its offer the information required at paragraph (a) of this provision within the timeframe specified in the provision at FAR 52.228-1, Bid Guarantee, or as otherwise established by the Contracting Officer.

(c)The Contracting Officer may release the security interest on the individual surety's assets in support of a bid guarantee based upon evidence that the offer supported by the individual surety will not result in contract award.

(End of provision)

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