52.228-2 — Additional Bond Security.
Researched by the BidStride Research Team
What This Clause Requires
FAR 52.228-2 — Additional Bond Security.. 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
52.228-2 Additional Bond Security. As prescribed in 28.106-4(a), insert the following clause: Additional Bond Security (OCT 1997) The Contractor shall promptly furnish additional security required to protect the Government and persons supplying labor or materials under this contract if— (a) Any surety upon any bond, or issuing financial institution for other security, furnished with this contract becomes unacceptable to the Government; (b) Any surety fails to furnish reports on its financial condition as required by the Government; (c) The contract price is increased so that the penal sum of any bond becomes inadequate in the opinion of the Contracting Officer; or (d) An irrevocable letter of credit (ILC) used as security will expire before the end of the period of required security. If the Contractor does not furnish an acceptable extension or replacement ILC, or other acceptable substitute, at least 30 days before an ILC's scheduled expiration, the Contracting officer has the right to immediately draw on the ILC. (End of clause) [48 FR 42478, Sept. 19, 1983, as amended at 61 FR 31653, June 20, 1996; 62 FR 44807, Aug. 22, 1997]
Compliance Checklist
- As prescribed in 28.106-4(a), insert the following clause: Additional Bond Security (OCT 1997) The Contractor shall promptly furnish additional security required to protect the Government and persons supplying labor or materials under this contract if— (a) Any surety upon any bond, or issuing financial institution for other security, furnished with this contract becomes unacceptable to the Government; (b) Any surety fails to furnish reports on its financial condition as required by the Government; (c) The contract price is increased so that the penal sum of any bond becomes inadequate in the opinion of the Contracting Officer; or (d) An irrevocable letter of credit (ILC) used as security will expire before the end of the period of required security.
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 52.228-2 (Additional Bond Security.) is a federal acquisition regulation clause that may be included in government contracts. It falls under the bonds-insurance category.
FAR 52.228-2 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 52.228-2 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.