We, the undersigned members of the Construction Industry Procurement Coalition (CIPC), which includes the construction industry trade and professional organizations representing tens of thousands of firms and individuals engaged in architecture, engineering, prime contracting, subcontracting, specialty trade contracting, and suretyship write in strong opposition to the Federal Acquisition Regulation (FAR) Case 2019-013, which seeks to increase the payment bond threshold from $35, 000.00 to $40,000.00 as delineated in Federal Acquisition Regulation (FAR) Part 28 Bonds and Insurance (28.102-1(b)(1), 28-102-2(c) and 28-102-3(b).
Topic
Advocacy, Payment Bond
Publish Date
August 31, 2020
Region
Federal
Audience
Owners
Resource Type
Comment Letter, Resource Map
NASBP opposes IL HB 5042 to raise the threshold to $10M for IL DOT and $5M for state/local contracts