Requirement for guarantee of performance.

As prescribed in 970.0970-2, the contracting officer shall insert the following provision in solicitations for management and operating contracts: Requirement for Guarantee of Performance (DEC 2000) The successful offeror is required by other provisions of this solicitation to organize a dedicated corporate entity to carry out the work under the contract to be awarded as a result of this solicitation. The successful offeror will be required, as part of the determination of responsibility of the newly organized, dedicated corporate entity and as a condition of the award of the contract to that entity, to furnish a guarantee of that entity's performance. That guarantee of performance must be satisfactory in all respects to the Department of Energy. (End of clause) [65 FR 81009, Dec. 22, 2000, as amended at 74 FR 36374, July 22, 2009]