Prime contractors betimes will be ...

Prime contractors betimes will be able to use an irrevocable verbal expression of credit in lieu of a assurance bond on federal construction devises under a policy epistle issued by the Office of Federal contrivance Policy (OFPP).
"The novel policy should provide some small contractors greater access to the management construction market," said Wayne mercy chairman of the American Subcontractors Association's guidance Relations Committee. "At the same time, OFPP has assured that a epistle of credit accepted in lieu of a payment fastening provides subcontractors with at least as a great deal ...