Common use of Letters of Credit for Payment Bond Clause in Contracts

Letters of Credit for Payment Bond. Notwithstanding the provisions of E.3, Contractor may use letters of credit in lieu of a surety bond for payment bond purposes when approved by Contracting Officer.

Letters of Credit for Payment Bond. Notwithstanding the provisions of E.3ET.3, Contractor may use letters of credit in lieu of a surety bond for payment bond purposes when approved by Contracting Officer.