If we have a contract that is valued over $100,000 but under $150,000, do we require the contractor to provide a performance and payment bond as per the statute? Or would this only require a payment bond as per the FAR?
Do you know why there's an apparent disconnect between the statute and the regulation or what I'm missing in my reading of either/both?
You should follow the FAR threshold of $150,000. That higher threshold reflects inflation-related adjustments to the original statutory threshold of $100,000. The original statute doesn't change, and requires new statutory coverage in order to effect changes to the FAR.
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