Current through October 31, 2024
Section 28.103-3 - Payment bonds(a) A payment bond is required only when a performance bond is required, and if the use of payment bond is in the Government's interest.(b) When a contract price is increased, the Government may require additional bond protection in an amount adequate to protect suppliers of labor and material.48 FR 42286, Sept. 19, 1983, as amended at 61 FR 39213, July 26, 1996