Bonds of contractors of public buildings or works (the Miller Act performance bond and payment bond requirement)

What this document is

40 U.S.C. s. 3131: Bonds of contractors of public buildings or works (the Miller Act performance bond and payment bond requirement) is a state statute published by U.S. Government Publishing Office (govinfo.gov). It is one of the documents that insurance license exam questions are written from, including property & casualty, claims adjuster practice questions. This page summarizes it and points to the official version, which is the text to rely on.

Sections cited in practice questions

Each practice answer shows the exact passage it comes from. These are sections of this document that questions cite, with a short excerpt from the source text.

• 40 U.S.C. § 3131(b) and (b)(1) (Type of bonds required; performance bond)

  “(b) Type of Bonds Required. - Before any contract of more than $100,000 is awarded for the construction, alteration, or repair of any public building or public work of the Federal Government, a person must furnish to the Government the following bonds, which become binding when the contract is...”

• 40 U.S.C. § 3131(b)(2) (Payment bond)

  “(2) Payment bond. - A payment bond with a surety satisfactory to the officer for the protection of all persons supplying labor and material in carrying out the work provided for in the contract for the use of each person. The amount of the payment bond shall equal the total amount payable by the...”

• 40 U.S.C. 3131(c)(1) (Coverage for taxes in performance bond)

  “Every performance bond required under this section specifically shall provide coverage for taxes the Government imposes which are collected, deducted, or withheld from wages the contractor pays in carrying out the contract with respect to which the bond is furnished.”

• 40 U.S.C. 3131(d) (Waiver of bonds for contracts performed in foreign countries)

  “A contracting officer may waive the requirement of a performance bond and payment bond for work under a contract that is to be performed in a foreign country if the officer finds that it is impracticable for the contractor to furnish the bonds.”

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Questions about this source

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