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CFR › Title 7 › Subtitle B › Chapter XVII › Part 1726 › Subpart A › Section 1726.24

7 CFR 1726.24 - Standard forms of contracts for borrowers.

There is 1 rule appearing in the Federal Register for 7 CFR 1726. Select the tab below to view, or View eCFR (GPOAccess)
§ 1726.24
Standard forms of contracts for borrowers.
(a) General. The standard loan agreement between RUS and the borrowers provides that, in accordance with applicable RUS regulations in this chapter, the borrower shall use standard forms of contracts promulgated by RUS for construction, procurement, engineering services, and architectural services financed by a loan made or guaranteed by RUS. This part implements these provisions of the RUS loan agreement. Subparts A through H and J of this part prescribe when and how borrowers are required to use RUS standard forms of contracts in procurement and construction. Subpart I of this part prescribes the procedures that RUS follows in promulgating standard contract forms and identifies those contract forms that borrowers are required to use for procurement and construction.
(b) Amendments to contracts— (1) Contract forms. The borrower must use RUS Form 238, Construction or Equipment Contract Amendment, for any change or addition in any contract for construction or equipment.
(2) Special considerations. Each time an amendment to a construction contract is executed, the borrower must ensure that contractor's bond is adequate, that all necessary licenses and permits have been obtained, and that any environmental requirements associated with the proposed construction have been met.
(3) Amendment approval requirements. (i) If a RUS approved form of contract is required by this part, an amendment must not alter the terms and conditions of the RUS approved form of contract without prior RUS approval.
(ii) The borrower must make a contract amendment subject to RUS approval if the underlying contract was made subject to RUS approval and the total amended contract price exceeds 120 percent of the original contract price (excluding any escalation provision contained in the contract).
(iii) Contract amendments, except as provided in paragraph (b)(3)(ii) of this section, are not subject to RUS approval and need not be submitted to RUS unless specifically requested by RUS on a case by case basis.
[60 FR 10155, Feb. 23, 1995, as amended at 63 FR 58286, Oct. 30, 1998; 69 FR 7109, Feb. 13, 2004]

Title 7 published on 2012-01-01

The following are only the Rules published in the Federal Register after the published date of Title 7.

For a complete list of all Rules, Proposed Rules, and Notices view the Rulemaking tab.

  • 2012-01-23; vol. 77 # 14 - Monday, January 23, 2012
    1. 77 FR 3070 - Electric Engineering, Architectural Services, Design Policies and Construction Standards
      GPO FDSys XML | Text
      DEPARTMENT OF AGRICULTURE, Rural Utilities Service
      Final rule.
      This rule is effective February 22, 2012.
      7 CFR Parts 1724 and 1726

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United States Code
USC : Title 7 - AGRICULTURE

§ 1921 - Congressional findings

Title 7 published on 2012-01-01

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 7 CFR 1726 after this date.

  • 2012-01-23; vol. 77 # 14 - Monday, January 23, 2012
    1. 77 FR 3070 - Electric Engineering, Architectural Services, Design Policies and Construction Standards
      GPO FDSys XML | Text
      DEPARTMENT OF AGRICULTURE, Rural Utilities Service
      Final rule.
      This rule is effective February 22, 2012.
      7 CFR Parts 1724 and 1726