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Code · BILL · 114th Congress · H.R. 4341 (Reported in House) — To amend the Small Business Act to improve transparency and clarity for small businesses, to clarify the role of smal... · Sec. 507

Sec. 507. GAO review of surety bonds

105 words·~1 min read·/bill/114/hr/4341/rh/section-507

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Not later than 60 days after the date of the enactment of this Act, the Comptroller General of the United States shall initiate a review of surety bonds as they apply to federal small business procurement contracts. The review shall examine how frequently bonding requirements are waived by federal agencies, an explanation of the standard and process for waiving the requirements, an explanation of the review process for such waivers, and in cases when bond requirements are waived, how results compare to instances where requirements are not waived, and the process that whistleblowers go through when instances of fraud related to surety bonds are reported.
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