(a) The current edition of Treasury Department Circular 570 must be prominently displayed in bid opening rooms, in GSA Business Service Centers, and in all places where bid forms and information are regularly available. Copies should be made available to officials having a need to know.

(b) Corporate surety bonds must be manually signed by the Attorney-inFact or officer of the surety company and the corporate seal affixed. Failure of the surety to affix the corporate seal may be waived as a minor informality. (See B-184120, July 2, 1975, 75-2-CPD 9.)

(c) A contractor submitting a performance or payment bond executed by an unacceptable corporate surety in satisfaction of a performance or payment bond requirement may be permitted to substitute an acceptable surety for a surety previously determined to be unacceptable.

[55 FR 5223, Feb. 14, 1990]

528.202-70 Acceptability of bonds and sureties.

The contracting officer shall verify the acceptability of the surety on a

(a) The Associate Administrator for Acquisition Policy or designee excludes individuals from acting as a surety on bonds under FAR 28.203-7.

(b) Referrals for consideration of exclusion must include as a minimum: (1) The basis for exclusion (see FAR 28.203-7(b));

(2) A statement of facts;

(3) Copies of supporting documentary evidence;

(4) The individuals name and current or last known home and or business addresses including zip codes;

(5) A statement of GSA's history with such individuals, if any; and

(6) A statement concerning any known active or potential criminal investigations or court proceedings.

[55 FR 5223, Feb. 14, 1990]

528.204 Options in lieu of sureties.

(a) An irrevocable letter of credit may be accepted as a bid guarantee under FAR clause 52.228–1, Bid Guarantee.

(b) Security deposited instead of corporate or individual sureties on bonds must be safeguarded as provided in procedures issued by the Office of the

(a) Insurance requirements must be adequate, just, and reasonable, and should be predicated on potential loss or damage (not necessarily on the value of the contract). When it is determined that insurance coverage should be required, the solicitation and resultant contract must contain the appropriate provisions prescribed in FAR 28.309, 28.310, or 28.311. The determination as to the type of insurance, amount, and any related insurance requirements must be made by the contracting officer with the advice of assigned legal counsel. All premiums or costs incurred to comply with an insurance requirement must be paid by the contractor.

(b) Submission of a current certificate of insurance indicating the amount and coverage, to the contracting officer, will serve as certification that the required insurance has been obtained.

Subpart 529.4-Contract Clauses

529.401 Domestic contracts.

529.401-70 Small purchases.

The contracting officer shall insert the clause at 552.229-70, Federal, State, and Local Taxes, in small purchases.

services, construction or the acquisition of leasehold interests in real property that require the submission of invoices for payment. The contracting officer should delete subparagraph (b) of the clause when an Accounting Control Transaction (ACT) number is not required for payment.

(c) Adjusting payments. The contracting officer shall insert the clause at 552.232-78, Adjusting Payments, in all solicitations and contracts for recurring building services expected to exceed the small purchase limitation.

(d) Final payment. The contracting officer shall insert the clause at 552.23279, Final Payment, in all solicitations and contracts for recurring building services expected to exceed the small purchase limitation.

making progress payments based on costs. When progress payments are conditioned upon achievement of specified benchmarks during performance of the contract, the HCA must make a written determination that use of benchmarks is in the best interest of the Government. When such a determination is made, the solicitation and each resulting contract must include a provision specifying the benchmarks that must be achieved before progress payments are made.

(b) Benchmarks should not be used in a manner that will convert progress payments based on costs into progress payments based on a percentage or stage of completion.

532.502 Preaward matters.

Debt means an amount of money or property which has been determined by a responsible official to be owed to the United States from any person, or entity except that the terms do not apply to amounts owed by another Federal agency.

Delinquent debt means an amount that has not been paid or otherwise collected by the date specified (usually 30 days) in the contracting officer's initial written demand for payment (i.e., final decision letter).

Responsible official as used in this subpart means the contracting officer. However, the contract finance office is responsible for the administration of debt collection under the Accounting Operations-Accounts Receivable and Credit and Finance Operations, and Related Activities Handbook (PFM P 4253.1).

532.606 Debt determination and collection.

532.606-70 Referral of delinquent debts.

(a) When the contracting officer determines that a debt in excess of $100 is delinquent, the contracting officer shall forward notification of the delinquent debt to the applicable finance office for collection in accordance with

the Debt Collection Act of 1982, and possible forwarding to a credit reporting agency.

(b) If the contractor appeals the contracting officer's demand for payment pursuant to the Disputes clause of its contract, the contracting officer shall advise the Finance Office whether to suspend collection efforts pending resolution of the dispute.

Subpart 532.7-Contract Funding 532.700 Scope.

GSA fiscal regulations are contained in the Budget Administration Handbook (COM P 4251.3A), Accounting Classification Handbook (COM P 4240.1), and Accounting Operations— Voucher Examination, Payment Handbook (PFM P 4252.1).

532.705 Contract clauses.

532.705-1 Clauses for contracting in advance of funds.

The contracting officer shall insert the clause at 552.232-77, Availability of Funds, in solicitations and contracts for services which are "severable" when option provisions are included, when the contract will be chargeable to funds of the new fiscal year and the contract action is to be initiated before the funds are available, or when the performance period may span fiscal years.

Subpart 532.8-Assignment of Claims

532.803 Policies.

Assignment of claims is restricted to individual orders of $1,000 or more when payments under requirements or indefinite quantity type contracts are made by more than one Government agency. This limitation does not apply when orders and payments are made solely by GSA.

532.805 Procedures.

(a) Upon receipt of a notice of assignment, the contracting officer must obtain legal counsel concurrence that both the notice and the instrument of assignment are in proper form, properly executed, and are actions that the