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§ 947. Vessel construction bonding requirements

Type Statute

Publication 2026-03-26

State In force

Department United States Congress

Source OLRC

Reform history JSON API

§ 947. Vessel construction bonding requirements

(1) the bond is required by law; or

(2) the Secretary or Commandant determines after investigation that the amount of the bond in excess of 20 percent of the value of the base contract quantity excluding options, would not prevent a responsible bidder or offeror from competing for award of the contract.

(Added Pub. L. 101–595, title III, § 306(a), Nov. 16, 1990, 104 Stat. 2985, § 667; renumbered § 947, Pub. L. 115–282, title I, § 107(b), Dec. 4, 2018, 132 Stat. 4205.)

Editorial Notes

Amendments

2018—Pub. L. 115–282 renumbered section 667 of this title as this section.

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