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  "contentVersion": "2026.08.31",
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  "operator": {
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    "licenseAuthority": "California Department of Insurance"
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  "title": "FAR 28.102-1 - Performance and payment bonds and alternative payment protections for construction contracts, General",
  "publisher": "U.S. General Services Administration (Acquisition.gov, Federal Acquisition Regulation)",
  "url": "https://www.acquisition.gov/far/28.102-1",
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  "accessedDate": "2026-08-31",
  "lastChecked": "2026-08-31",
  "updateCadence": "Updated by Federal Acquisition Circulars",
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      "text": "FAR 28.102-1(a) states that 40 U.S.C. chapter 31, subchapter III, Bonds, formerly known as the Miller Act, requires performance and payment bonds for any construction contract exceeding $150,000, except that this requirement may be waived, first by the contracting officer for work performed in a foreign country upon a finding that it is impracticable for the contractor to furnish the bonds, and second as otherwise authorized by the Bonds statute or by other law."
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      "text": "Pursuant to 40 U.S.C. 3132, for construction contracts greater than $35,000 but not greater than $150,000, the contracting officer shall select two or more of the listed payment protections, giving particular consideration to inclusion of an irrevocable letter of credit as one of the selected alternatives."
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      "text": "The payment protections the contracting officer selects from are a payment bond, an irrevocable letter of credit, a tripartite escrow agreement, certificates of deposit, and a deposit of the types of security listed in FAR 28.204-1 and 28.204-2."
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      "text": "The contractor shall submit to the Government one of the payment protections selected by the contracting officer."
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      "checksum": "c55547bdfe96",
      "text": "The contractor shall furnish all bonds or alternative payment protection, including any necessary reinsurance agreements, before receiving a notice to proceed with the work or being allowed to start work."
    }
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      "kind": "Question",
      "title": "What does a surety bond guarantee, and how is it different from insurance?",
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  "citation": {
    "text": "U.S. General Services Administration (Acquisition.gov, Federal Acquisition Regulation). \"FAR 28.102-1 - Performance and payment bonds and alternative payment protections for construction contracts, General.\" unknown. https://www.acquisition.gov/far/28.102-1 (retrieved 2026-08-31).",
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