52.228-17 — Individual Surety—Pledge of Assets (Bid Guarantee).
Researched by the BidStride Research Team
What This Clause Requires
FAR 52.228-17 — Individual Surety—Pledge of Assets (Bid Guarantee).. This clause is part of the Federal Acquisition Regulation and may be included in government contracts as a solicitation provision or contract clause.
Official Regulation Text
52.228-17 Individual Surety—Pledge of Assets (Bid Guarantee). As prescribed in 28.203-4(a), insert the following provision: Individual Surety—Pledge of Assets (Bid Guarantee) (FEB 2021) (a) Offerors shall obtain from each person acting as an individual surety on a bid guarantee— (1) A pledge of assets that meets the eligibility, valuation, and security requirements described in the Federal Acquisition Regulation (FAR) 28.203-1; and (2) Standard Form 28, Affidavit of Individual Surety. (b) The Offeror shall include with its offer the information required at paragraph (a) of this provision within the timeframe specified in the provision at FAR 52.228-1, Bid Guarantee, or as otherwise established by the Contracting Officer. (c) The Contracting Officer may release the security interest on the individual surety's assets in support of a bid guarantee based upon evidence that the offer supported by the individual surety will not result in contract award. (End of provision) [86 FR 3686, Jan. 14, 2021]
Compliance Checklist
- As prescribed in 28.203-4(a), insert the following provision: Individual Surety—Pledge of Assets (Bid Guarantee) (FEB 2021) (a) Offerors shall obtain from each person acting as an individual surety on a bid guarantee— (1) A pledge of assets that meets the eligibility, valuation, and security requirements described in the Federal Acquisition Regulation (FAR) 28.203-1; and (2) Standard Form 28, Affidavit of Individual Surety.
- (b) The Offeror shall include with its offer the information required at paragraph (a) of this provision within the timeframe specified in the provision at FAR 52.228-1, Bid Guarantee, or as otherwise established by the Contracting Officer.
Flow-Down to Subcontractors
No flow-down required
This clause applies only to the prime contract and does not need to be flowed down to subcontractors.
Frequently Asked Questions
FAR 52.228-17 (Individual Surety—Pledge of Assets (Bid Guarantee).) is a federal acquisition regulation clause that may be included in government contracts. It falls under the bonds-insurance category.
FAR 52.228-17 is typically required when the contracting officer determines it's applicable to the specific procurement. Check the solicitation's Section I for included clauses.
Whether FAR 52.228-17 flows down depends on the specific clause language and contract type. Review the clause text for flow-down provisions.
This summary is for informational purposes only and reflects the BidStride Research Team's plain-English interpretation of the regulation. It is not legal advice and does not constitute an attorney-client relationship. Always consult the official Federal Acquisition Regulation (FAR) or Defense Federal Acquisition Regulation Supplement (DFARS) text and qualified legal counsel for compliance decisions.