FP-96 English Version - Eastern Federal Lands Highway Division

Section 102102.04 Individual Surety. FAR Clause 52.228-11 - Pledges of Assets issupplemented as follows.Complete and date the SF 28, Affidavit of Individual Surety, after the solicitationdate. The individual surety shall personally sign the SF 28. Execution bypower of attorney is not acceptable. Bidders cannot serve as their own surety.Assets named shall be committed to the project with a bank designated to serveas trustee.After reviewing the SF 28, the surety may be requested to provide furtherdocumentation with respect to any of its assets, debts, or encumbrances. Theinformation may be required to be furnished under oath. Failure of the suretyto respond with the requested documentation within 7 days of receipt of therequest is cause for rejection of the surety.Any material misstatement by the surety, overstatement of assets (either as toownership or value) or understatement of liabilities is cause for rejection of thesurety. Substitution of individual sureties to support a bid bond after the bidopening will not be permitted.102.05 Public Opening of Bids. Bids will be publicly opened at the timespecified in the SF 1442. Their contents will be made public information. TheGovernment reserves the right to reject bids as set forth in the FAR,Part 14.102.06 Performance and Payment Bonds. Furnish a performance bond inthe penal amount of 100 percent of the original contract price and a paymentbond as follows:(a) In the penal amount of 50 percent of the original contract price if thecontract price is not more the $1 million.(b) In the penal amount of 40 percent of the original contract price if thecontract is more than $1 million but not more than $5 million.(c) In the amount of $2.5 million if the contract price is more than $5million.Use SF 25, Performance Bond, and SF 25A, Payment Bond, for submitting thebonds.16