Small Business Contracting: Surety Bond Waivers for Construction Contracts

Abstract

Surety bonds - which generally apply to construction contracts - are guarantees issued by providers, such as individuals or surety companies, to ensure that projects will be completed as required and that suppliers and subcontractors will be paid if a bonded prime contractor defaults. The House report accompanying the National Defense Authorization Act for Fiscal Year 2017 included a provision for us to report on the use of surety bonds in connection with federal contracts with small businesses. This report identifies (1) the requirements for obtaining surety bonds, (2) how often surety bonds are waived at selected agencies, and (3) the whistleblower process for reporting fraud related to surety bonds at selected agencies.

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Document Details

Document Type
Technical Report
Publication Date
Aug 07, 2017
Accession Number
AD1166440

Entities

People

  • Andrew Burton
  • Julia Kennon
  • Matt Shaffer
  • Stephanie Gustafson
  • Sylvia Schatz
  • Tatiana Winger
  • William T. Woods

Organizations

  • United States Government Accountability Office

Tags

DTIC Thesaurus Topics

  • Accountability
  • Acquisition
  • Business Administration
  • Commerce
  • Congress
  • Construction
  • Contractors
  • Contracts
  • Cost Reimbursement Contracts
  • Department Of Defense
  • Department Of Veterans Affairs
  • Electronic Mail
  • Federal Law
  • Government Procurement
  • Governments
  • Guarantees
  • House Of Representatives
  • Law
  • Money
  • Procurement
  • Regulations
  • Small Business

Fields of Study

  • Business

Readers

  • Government Contracting/Procurement.
  • Surface Coatings Technology.