(a) An individual may be excluded from acting as a surety on bonds submitted by offerors on procurement by the executive branch of the Federal Government, by the acquiring agency's head or designee utilizing the procedures in subpart 9.4. The exclusion shall be for the purpose of protecting the Government.
(b) An individual may be excluded for any of the following causes:
(1) Failure to fulfill the obligations under any bond.
(3) Misrepresentation of the value of available assets or outstanding liabilities.
(4) Any false or misleading statement, signature or representation on a bond or affidavit of individual suretyship.
(5) Any other cause affecting responsibility as a surety of such serious and compelling nature as may be determined to warrant exclusion.
(c) An individual surety excluded pursuant to this subsection shall be included in the System for Award Management Exclusions. (See 9.404.)
(d) Contracting officers shall not accept the bonds of individual sureties whose names appear in the System for Award Management Exclusions (see 9.404) unless the acquiring agency's head or a designee states in writing the compelling reasons justifying acceptance.
(e) An exclusion of an individual surety under this subsection will also preclude such party from acting as a contractor in accordance with subpart 9.4.
[54 FR 48988, Nov. 28, 1989, as amended at 60 FR 33066, June 26, 1995; 69 FR 76349, Dec. 20, 2004; 78 FR 37678, June 21, 2013]
Title 48 published on 2013-10-01
The following are only the Rules published in the Federal Register after the published date of Title 48.
For a complete list of all Rules, Proposed Rules, and Notices view the Rulemaking tab.
This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.