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15 U.S.C. § 694c — Revolving fund for surety bond guarantees
Federal law — U.S. Code and appendices · legal_authorities
**(a)** There is created within the Treasury a separate fund for guarantees which shall be available to the Administrator without fiscal year limitation as a revolving fund for the purposes of this part. All amounts received by the Administrator, including any moneys, property, or assets derived by him from his operations in connection with this part, shall be deposited in the fund. All expenses and payments, excluding administrative expenses, pursuant to operations of the Administrator under this part shall be paid from the fund.
**(b)** Such sums as may be appropriated to the Fund to carry out the programs authorized by this part shall be without fiscal year limitation.
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Source file: Laws/federal/codes/united-states-code/title-15/section-694c-revolving-fund-for-surety-bond-guarantees--2bdce562ff.md
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Source location: Title 15, Chapter 14B, § 694c; chapter-14b-small-business-investment-program.md
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**(a)** There is created within the Treasury a separate fund for guarantees which shall be available to the Administrator without fiscal year limitation as a revolving fund for the purposes of this part. All amounts received by the Administrator, including any moneys, property, or assets derived by him from his operations in connection with this part, shall be deposited in the fund. All expenses and payments, excluding administrative expenses, pursuant to operations of the Administrator under this part shall be paid from the fund.
**(b)** Such sums as may be appropriated to the Fund to carry out the programs authorized by this part shall be without fiscal year limitation.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Aid, counsel, assistance, etc., to small business concerns** The essence of the American economic system of private enterprise is free competition. Only through full and free competition can free markets, free entry into business, and opportunities for the expression and growth of personal initiative and individual judgment be assured. The preservation and expansion of such competition is basic not only to the economic well-being but to the security of this Nation. Such security and well-being cannot be realized unless the actual and potential capacity of small business is encouraged and developed. It is the declared policy of the Congress that the Government should aid, counsel, assist, and protect, insofar as is possible, the interests of small-business concerns in order to preserve free competitive enterprise, to insure that a fair proportion of the total purchases and contracts or subcontracts for property and services for the Government (including but not limited to contracts or subcontracts for maintenance, repair, and construction) be placed with small-business enterprises, to insure that a fair proportion of the total sales of Government property be made to such enterprises, and to maintain and strengthen the overall economy of the Nation.
**(b) Assistance to compete in international markets**
(1) It is the declared policy of the Congress that the Federal Government, through the Administrator of the Small Business Administration, acting through the Associate Administrator for International Trade, and in cooperation with the Department of Commerce and other relevant State and Federal agencies, should aid and assist small businesses, as defined under this chapter, to increase their ability to compete in international markets by—
(A) enhancing their abil
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 631
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Creation; principal, branch, and regional offices** In order to carry out the policies of this chapter there is created an agency under the name “Small Business Administration” (herein referred to as the Administration), which Administration shall be under the general direction and supervision of the President and shall not be affiliated with or be within any other agency or department of the Federal Government. The principal office of the Administration shall be located in the District of Columbia. The Administration may establish such branch and regional offices in other places in the United States as may be determined by the Administrator of the Administration. As used in this chapter, the term “United States” includes the several States, the Territories and possessions of the United States, the Commonwealth of Puerto Rico, the Trust Territory of the Pacific Islands, and the District of Columbia.
**(b) Appointment of Administrator, Deputy Administrator, and Associate Administrators; duties of Administrator: preparation of data base and publication of economic indices and annual report; risk management database; computer security and education program**
(1) The management of the Administration shall be vested in an Administrator who shall be appointed from civilian life by the President, by and with the advice and consent of the Senate, and who shall be a person of outstanding qualifications known to be familiar and sympathetic with small-business needs and problems. The Administrator shall not engage in any other business, vocation, or employment than that of serving as Administrator. In carrying out the programs administered by the Small Business Administration including its lending and guaranteeing functions, the Administrator shall not discriminate on the
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 633
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Authority of Administration to guarantee surety against loss from principal’s breach of bond**
(1)
(A) The Administration may, upon such terms and conditions as it may prescribe, guarantee and enter into commitments to guarantee any surety against loss resulting from a breach of the terms of a bid bond, payment bond, performance bond, or bonds ancillary thereto, by a principal on any total work order or contract amount at the time of bond execution that does not exceed $6,500,000, as adjusted for inflation in accordance with [section 1908 of title 41](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title41-section1908&num=0&edition=prelim).
(B) The Administrator may guarantee a surety under subparagraph (A) for a total work order or contract amount that does not exceed $10,000,000, if a contracting officer of a Federal agency certifies that such a guarantee is necessary.
(2) The terms and conditions of said guarantees and commitments may vary from surety to surety on the basis of the Administration’s experience with the particular surety.
(3) The Administration may authorize any surety, without further administration approval, to issue, monitor, and service such bonds subject to the Administration’s guarantee.
(4) No such guarantee may be issued, unless—
(A) the person who would be principal under the bond is a small business concern;
(B) the bond is required in order for such person to bid on a contract, or to serve as a prime contractor or subcontractor thereon;
(C) such person is not able to obtain such bond on reasonable terms and conditions without a guarantee under this section; and
(D) there is a reasonable expectation that such principal will perform the covenants and conditions of the contract with respect to which such
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 694b
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Federal law — U.S. Code and appendices · legal_authorities
Page 1134
TITLE 15—COMMERCE AND TRADE
§ 694c
REGULATIONS
Pub. L. 100–590, title II, § 205, Nov. 3, 1988, 102 Stat.
3009, provided that: ‘‘The Administration shall promul-
gate final regulations to implement the amendments
made by this title [amending this section and section
694c of this title] not later than one hundred and eighty
days after the date of the enactment of this Act [Nov.
3, 1988].’’
SMALL BUSINESS ACCESS TO SURETY BONDING SURVEY
Pub. L. 102–366, title III, subtitle A, Sept. 4, 1992, 106
Stat. 1002–1005, known as the Small Business Access to
Surety Bonding Survey Act of 1992, directed Comp-
troller General to conduct a comprehensive survey of
business firms, from a statistically valid sample of
business firms developed from the most recent list of
construction firms maintained by Dun and Bradstreet
Company and using a questionnaire with specifically
designated questions, to obtain data on the experiences
of such firms, and especially the experiences of small
business concerns, in obtaining surety bonds from cor-
porate surety firms and to submit a report to Congress,
not later than 18 months after Sept. 4, 1992, which re-
port was to contain a summary of responses of business
firms to the survey and a description of any trends
found by Comptroller General in such responses, which
specific information on responses and trends of small
business concerns, small business concerns owned and
controlled by women, and small business concerns
owned and controlled by socially and economically dis-
advantaged individuals.
EVALUATION OF PREFERRED SURETY BOND GUARANTEE
PROGRAM; REPORT
Pub. L. 100–590, title II, § 206, Nov. 3, 1988, 102 Stat.
3009, as amended by Pub. L. 101–574, title II, § 216(b),
Nov. 15, 1990, 104 Stat. 2823, directed Comp
Source: Supplied 2024 U.S. Code historical extraction · 15 U.S.C. § 694c
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