Us Code § 947 - Vessel construction bonding requirements
Full text of Us Code United States Code § 947 — Vessel construction bonding requirements, with citation guidance and answers to common questions.
§ 947. Vessel construction bonding requirements
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.
(Added Pub. L. 101–595, title III, §306(a), Nov. 16, 1990, 104 Stat. 2985, §667; renumbered §947, Pub. L. 115–282, title I, §107(b), Dec. 4, 2018, 132 Stat. 4205.)
Editorial Notes
Amendments
2018—Pub. L. 115–282 renumbered section 667 of this title as this section.
About This Section
14 U.S.C. § 947 is part of Title 14 of the United States Code. The United States Code is the official codification of federal statutes maintained by the Office of the Law Revision Counsel of the U.S. House of Representatives. Congress amends the Code through new public laws, which are eventually incorporated into the relevant title.
This section may be cited in legal writing as 14 U.S.C. § 947. For the most current official text, including any recent amendments, use the official source links below. Do not rely on this page as the sole authority for legal citation or litigation.
How to Read This Statute
Statutes are organized by title, chapter, section, and subsection. Pay attention to words like "shall," "may," "and," and "or," because they determine whether a requirement is mandatory or permissive and whether multiple conditions must all be met. Historical notes and amendments often appear at the end of a section.
Using This Page
This page is intended for research and educational use. Lawyers, students, journalists, and compliance professionals can use it as a starting point, but should always verify the current text through an official government source before relying on it for legal advice, filings, or compliance decisions.