Accession Number:

AD1166440

Title:

Small Business Contracting: Surety Bond Waivers for Construction Contracts

Descriptive Note:

[Technical Report, Congressional Report]

Corporate Author:

GOVERNMENT ACCOUNTABILITY OFFICE WASHINGTON DC

Personal Author(s):

• Woods, William T.
• Winger, Tatiana
• Burton, Andrew
• Gustafson, Stephanie
• Kennon, Julia
• Schatz, Sylvia
• Shaffer, Matt

Report Date:

2017-08-07

Pagination or Media Count:

8

Abstract:

Surety bonds - which generally apply to construction contracts - are guarantees issued by providers, such as individuals or surety companies, to ensure that projects will be completed as required and that suppliers and subcontractors will be paid if a bonded prime contractor defaults. The House report accompanying the National Defense Authorization Act for Fiscal Year 2017 included a provision for us to report on the use of surety bonds in connection with federal contracts with small businesses. This report identifies 1 the requirements for obtaining surety bonds, 2 how often surety bonds are waived at selected agencies, and 3 the whistleblower process for reporting fraud related to surety bonds at selected agencies.

Descriptors:

• congress
• law
• business administration
• contracts
• department of veterans affairs
• contractors
• department of defense
• small business
• acquisition
• governments
• procurement
• commerce
• electronic mail
• federal law
• government procurement
• accountability
• house of representatives

Subject Categories:

• Administration and Management
• Economics and Cost Analysis

Distribution Statement:

[A, Approved For Public Release]