USACE’s position on the acceptable form of POA – 09/15/2006

I am contacting you as a follow-up to our meeting on July 12, 2006 regarding USACE’s position on the acceptable form of powers of attorneys (POAs) accompanying performance and payment bonds. At the July 12 meeting, I, along with representatives from AGC of America, the Surety & Fidelity Association of America, and the American Insurance Association, met with you to bring to your attention instances in which different USACE regional offices were requiring “wet” or ink
signatures on POAs for final bonds–that is, performance and payment bonds. As you know, the FAR Council issued new guidance in the form of a FAR change that permits electronic, printed and mechanically-applied signatures on POAs accompanying bid bonds. The FAR change did not address POAs for final bonds, however.

Read more…