Payment Bonds. (i) Unless the con- tracting officer makes a written deter- mination supported by specific findings that a payment bond in this amount is impractical, the amount of the pay- ment bond must equal— (A) 100 percent of the original con- tract price; and (B) If the contract price increases, an additional amount equal to 100 percent of the increase. (ii) The amount of the payment bond must be no less than the amount of the performance bond.
Appears in 5 contracts
Samples: Payment Protections Agreement, Escrow Agreement, Escrow Agreement
