13 CFR 115.11 - Applying to participate in the Surety Bond Guarantee Program.

§ 115.11 Applying to participate in the Surety Bond Guarantee Program.

Sureties interested in participating as Prior Approval Sureties or PSB Sureties should apply in writing to the D/SG at 409 3rd Street, SW., Washington, DC 20416. OSG will determine the eligibility of the applicant considering its standards and procedures for underwriting, administration, claims and recovery. Each applicant must be a corporation listed by the U.S. Treasury as eligible to issue bonds in connection with Federal procurement contracts. At a minimum, each applicant must have salaried staff that is employed directly (not an agent or other individual or entity under contract with the applicant) to oversee its underwriting function and perform all claims and recovery functions other than specialized services the costs of which may be reimbursable under 13 CFR 115.16(e)(1). Final settlement authority for claims and recovery must be vested only in the applicant's salaried claims staff. The applicant must continue to comply with SBA's standards and procedures for underwriting, administration, claims, recovery, and staffing requirements while participating in SBA's Surety Bond Guarantee Programs.

[ 61 FR 3271, Jan. 31, 1996, as amended at 81 FR 23565, Apr. 22, 2016]

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.

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United States Code
Statutes at Large
Public Laws

Title 13 published on 08-Jun-2018 03:45

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 13 CFR Part 115 after this date.

  • 2017-08-21; vol. 82 # 160 - Monday, August 21, 2017
    1. 82 FR 39491 - Miscellaneous Amendments to Business Loan Programs and Surety Bond Guarantee Program
      GPO FDSys XML | Text
      Final rule.
      This rule is effective September 20, 2017, except for the amendment to § 120.1400(a), which is effective October 20, 2017.
      13 CFR Parts 109, 115, and 120
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