Title 48

SECTION 452.232-70

452.232-70 Reimbursement for Bond Premiums - Fixed-Price Construction Contracts.

As prescribed in 432.111, insert the following clause:

Reimbursement for Bond Premiums - Fixed-Price Construction Contracts (NOV 1996)

The Contract Price includes the total amount for premiums that the Contractor attributes to the furnishing of performance and payment bonds required by the contract. Reimbursement for bond premiums under the clause at FAR 52.232-5, Payments Under Fixed-Price Construction, shall not cover any amount therefor not included in the contract price.

(End of clause) [61 FR 53646, Oct. 15, 1996. Redesignated at 63 FR 26996, May 15, 1998, as amended at 70 FR 50, Jan. 3, 2005]