A request was made to decrease the bond amount to @$750K. Is that allowable? Is any decrease to the bond amount allowable?
The subject of surety protection reduction would most likely be addressed in the DHS FAR Supplement. The Federal Acquisition Regulation (FAR) Part 28 does not address the reduction of surety protection. However, DFARS 228.012-1 waives the requirement for performance and payment bonds for cost reimbursement type contracts in Department of Defense contracts. DHS may have similar provisions but I was unable to find a reference in the agency acquisition manual.
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