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What's New: Government Affairs

Threshold for Payment Security under the Miller Act Set to Increase

Friday, December 12, 2014  
The Department of Defense, General Services Administration, and the National Aeronautics and Space Administration have issued a proposed change to the Federal Acquisition Regulation (FAR) that would increase the threshold at which payment security is required for federal construction contracts from $30,000 to $35,000. A law enacted in 2004 as part of the National Defense Authorization Act for fiscal year 2005 requires an adjustment every five years of acquisition-related thresholds for inflation. The Miller Act bond thresholds were reviewed for the first time in 2005 and the threshold for payment security was increased from $25,000 to $30,000, but the $100,000 performance bond threshold remained the same. In 2010, the Miller Act thresholds were again reviewed and this time, only the performance bond threshold was increased from $100,000 to $150,000 under the required indexing. For the current 2015 review, the threshold for payment security was increased but the performance bond threshold remained the same. The next review for both thresholds will be in 2020.

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