Fidelity Bond Coverage. Except Grantees which are units of government and except for grants that are less than $100,000, RUS shall have received evidence satisfactory to it that the Grantee has obtained fidelity bond coverage from a surety doing business with the United States listed in 31 C.F.R. § 223, in an amount at least fifteen percent (15%) of the Grant, covering all officers, employees, or agents of the Grantee authorized to receive, disburse, or receive and disburse the Grant funds. For existing RUS Borrowers, however, RUS may waive this fidelity bond coverage requirement, if after evaluation, RUS has determined that adequate fidelity bond coverage is already maintained by the Grantee as an RUS Borrower under an existing loan or guarantee agreement.
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Samples: Connectivity Broadband Grant and Security Agreement, Connectivity Broadband Grant Agreement
Fidelity Bond Coverage. Except Grantees which are units of government government, and except for grants that are less than $100,000, RUS shall have received evidence evidence, satisfactory to it it, that the Grantee has obtained fidelity bond coverage coverage, from a surety doing business with the United States listed in 31 C.F.R. § Part 223, in an amount at least fifteen percent (15%) of the Grant, covering all officers, employees, or agents of the Grantee authorized to receive, disburse, or receive and disburse the Grant funds. For F or existing RUS Borrowers, however, RUS may waive this fidelity bond coverage requirement, if after evaluation, RUS has determined that adequate fidelity bond coverage is already maintained by the Grantee as an RUS Borrower under an existing loan or guarantee agreement.
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Samples: Distance Learning and Telemedicine Grant Agreement, Distance Learning and Telemedicine Grant Agreement
Fidelity Bond Coverage. Except Grantees which are units of government government, and except for grants that are less than $100,000, RUS shall have received evidence evidence, satisfactory to it it, that the Grantee Fiscal Agent has obtained fidelity bond coverage coverage, from a surety doing business with the United States listed in 31 C.F.R. § Part 223, in an amount at least fifteen percent (15%) of the Grant, covering all officers, employees, or agents of the Grantee Fiscal Agent authorized to receive, disburse, or receive and disburse the Grant funds. For F or existing Fiscal Agents that are RUS Borrowers, however, RUS may waive this fidelity bond coverage requirement, if after evaluation, RUS has determined that adequate fidelity bond coverage is already maintained by the Grantee as an RUS Borrower under an existing loan or guarantee agreement.
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