Title 14 — Coast GuardRelease 119-73not60

§947 Vessel Construction Bonding Requirements

Title 14 › Subtitle SUBTITLE I— ESTABLISHMENT, POWERS, DUTIES, AND ADMINISTRATION › Chapter 9— ADMINISTRATION › Subchapter II— MISCELLANEOUS › § 947

Last updated Apr 3, 2026|Official source

Summary

Secretary or Commandant may require bonds or other instruments for Coast Guard vessels if law requires it or after investigation shows a bond above 20% of the base contract (excluding options) won't bar responsible bidder.

Full Legal Text

Title 14, §947

Coast Guard — Source: USLM XML via OLRC

The Secretary or the Commandant may require bid, payment, performance, payment and performance, or completion bonds or other financial instruments from contractors for construction, alteration, repair, or maintenance of Coast Guard vessels if—

(1)the bond is required by law; or

(2)the Secretary or Commandant determines after investigation that the amount of the bond in excess of 20 percent of the value of the base contract quantity excluding options, would not prevent a responsible bidder or offeror from competing for award of the contract.

Legislative History

Notes & Related Subsidiaries

Editorial Notes

Amendments

2018—Pub. L. 115–282 renumbered section 667 of this title as this section.

Reference

Citations & Metadata

Citation

14 U.S.C. § 947

Title 14 — Coast Guard

Last Updated

Apr 3, 2026

Release point: 119-73not60