7 CFR 1788.49
§ 1788.49 Contractors' bond requirements.
United States · 7 CFR — Agriculture · Status: effective
Cite this
- Citation
- 7 CFR 1788.49, § 1788.49 Contractors' bond requirements, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/28370
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Full text
Construction contracts in amounts in excess of $250,000 for facilities shall require contractors to secure a contractors' bond, on a form approved by RUS, attached to the contract in a penal sum of not less than the contract price, which is the sum of all labor and materials including owner-furnished materials installed in the project. RUS Form 168b is for use when the contract exceeds $250,000. RUS Form 168c is for use when the contractor's surety has accepted a Small Business Administration guarantee and the contract is for $1,000,000 or less. For minor construction contracts under which work will be done in sections and no section will exceed a total cost of $250,000, the borrower may waive the requirement for a contractors' bond.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.