§ 667. — Vessel construction bonding requirements.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 14USC667]
TITLE 14--COAST GUARD
PART I--REGULAR COAST GUARD
CHAPTER 17--ADMINISTRATION
Sec. 667. Vessel construction bonding requirements
The Secretary or the Commandant may require bid, payment,
performance, payment and performance, or completion bonds or other
financial instruments from contractors for construction, alteration,
repair, or maintenance of Coast Guard vessels if--
(1) the bond is required by law; or
(2) the Secretary or Commandant determines after investigation
that the amount of the bond in excess of 20 percent of the value of
the base contract quantity excluding options, would not prevent a
responsible bidder or offeror from competing for award of the
contract.
(Added Pub. L. 101-595, title III, Sec. 306(a), Nov. 16, 1990, 104 Stat.
2985.)
