Common use of 9b ALTERNATIVE PAYMENT PROTECTIONS Clause in Contracts

9b ALTERNATIVE PAYMENT PROTECTIONS. (a) The Seller shall submit one of the following payment protections: (1) A payment bond (either the Company form available at xxx.xxxx.xxx/Xxxxxxxxxxx/xxxxxxxx.xxx or Standard Form 25-A, modified to name the Company as well as the United States of America as an obligee; or (2) an irrevocable letter of credit (see Part 1.9f below). (b) The amount of the payment protection shall be 100 percent of the Agreement price. (c) The payment protection must be submitted within ten days of award of the Agreement.

9b ALTERNATIVE PAYMENT PROTECTIONS. (a) The Seller shall submit one of the following payment protections: (1) A payment bond (either the Company form available at xxx.xxxx.xxx/Xxxxxxxxxxx/xxxxxxxx.xxx or Standard Form 25-A, modified to name the Company as well as the United States of America as an obligee; or (2) an irrevocable letter of credit (see Part 1.9f below)credit. (b) The amount of the payment protection shall be 100 percent of the Agreement price. (c) The payment protection must be submitted within ten days of award of the Agreement.