Federal Acquisition Regulation
Substitution of assets
FAR 28.203-2
An individual surety may request the Government to accept a substitute asset for that currently pledged by submitting a written request, including a revised SF 28 , to the responsible contracting officer. Following the requirements set forth in 28.203-1 , the contracting officer may agree to the substitution of assets upon determining that the substitute assets to be pledged are adequate to protect the outstanding bond or guarantee obligations.
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