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Payment Bonding and Financial Security Services

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Federal

Contract Overview

Solicitation details, issuing organization, response deadlines, documents, and interested companies for this government contract opportunity.

AI Contract Overview

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A payment bond equal to 20 percent of the contract value, amounting to €29,855.42, must be provided within ten days of award to ensure payment for labor and materials and to protect against liens on the U.S. Embassy project in Riga, Latvia. This financial security requirement is mandatory and directly tied to the performance of the subcontract, underscoring the importance of timely compliance to maintain project integrity and legal compliance under U.S. Department of State oversight. The contract is classified under NAICS code 524126 and is managed by the U.S. Embassy Riga, with performance located at the embassy’s facility in Riga, postal code 1510. The obligation to secure this bond reflects strict financial accountability standards expected of contractors working on U.S. government overseas projects.

General Info

Payment bond of €29,855.42 required within ten days for U.S. Embassy Riga project under State Department oversight.

Agency

Department Of State → US Embassy RigaView Agency

NAICS

524126 - Direct Property and Casualty Insurance CarriersView NAICS

Place of Performance

Riga, LV-RIX, 1510, LVA

Set-Aside

NONE

Documents

(0)

No documents available

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Timeline

PostedApr 23

subcontract

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Organization & Contact Information

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AgencyDepartment Of State → US Embassy Riga

ContactsNo contacts available

OfficeN/A

Organization / Agency

Department Of State → US Embassy Riga

View Agency Profile

Office AddressN/A

ContactsNo contact information available

Full Description

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Provide a payment bond equal to 20% of the contract value (€29,855.42) to secure labor, material payments, and lien protection within 10 days of award for a U.S. Embassy project in Latvia.

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