GSAM

GSAM

Change Number: Change 161 GSAM Case 2022-G512
Effective Date: 02/01/2023

528.101-1 Policy on use.

528.101-1 Policy on use.

      (a)  Construction contracts. The bid guarantee requirements in FAR 28.101-1(a) apply to contracts over $150,000awarded under Section 8(a)of the Small Business Act, as amended ( 15 U.S.C. 637(a)).

      (b)  Building service contracts. The contracting officer may require bid guarantees for building service contracts over $150,000 if it is determined under 528.103-2 that a performance bond is essential to protect the Government’s interest.

      (c)  All other contracts. Refer to FAR 28.101 for guidance on the use of bid guarantees.