Chapter 1. Providing for the use of certified checks to secure compliance with proposals and contracts for naval supplies
172 words·~1 min read·
/statutes-at-large/vol-34/chapter-1-3673299·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
CHAP. 1.— An Act Providing for the use of certified checks to secure compliance with proposals and contracts for naval supplies. December 11, 1906. [[S. 1804](/us/bill/59/s/1804).] [[Public, No. 1](/us/pl/59/2).] *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled*, That the Secretary of the Navy.Contracts. etc., for supplies.Certified checks in lieu of bond. etc.[R. S., secs, 3718, 3719, pp. 734, 735, amended](/us/rs/s3718/3719/pp734/735).Navy may, in his discretion, accept, in lieu of the written guaranty required to accompany a proposal for naval supplies, and in lieu of the bond required for the faithful performance of a contract for furnishing such supplies, a certified check, payable to the order of the Secretary of the Navy, for from twenty-five to fifty per centum of the amount of such proposal or contract, the check to be held by the Secretary of the Navy until the requirements of the proposal or contract shall be complied with and as a guaranty for compliance with the same.
Approved, December 11, 1906.