Management & Operations

FTA: Performance and payment bonds not required

Posted on January 30, 2004

The Federal Transit Administration (FTA) has issued a Dear Colleague letter emphasizing that performance and payment bonds are not required in federally-assisted procurements, especially of rolling stock. In the letter, FTA Administrator Jenna Dorn states that high bond pricing and limited availability can negatively impact the bottom line of transit systems and their suppliers. "I challenge each of you to carefully assess the risk involved in any given procurement and carefully balance those risks against the cost and competitive impacts of bonding requirements," Dorn wrote.

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