FEDERAL
AGENCY:
OFFICE
OF THE SECRETARY, DEPARTMENT OF TRANSPORTATION
AUTHORIZATION:
Public
Law 97-449, 49 U.S.C. 332.
To
enhance and further the opportunity for Small and Disadvantaged
Business Enterprises (SDBEs) to obtain bid, performance and payment
bonds for transportation-related contracts emanating from the DOT,
its grantees, recipients, their contractors and subcontractors.
TYPES
OF ASSISTANCE:
Insurance.
Place Cursor Here for Definition
|
USES
AND USE RESTRICTIONS:
The
bonds are issued in support of transportation-related contracts.
Transportation-related means a contract for the maintenance, rehabilitation,
restructuring, improvement, or revitalization of any of the Nation's
modes of transportation with any public or commercial provider of
transportation or any Federal, State or local transportation agency.
ELIGIBILITY
REQUIREMENTS:
Applicant
Eligibility: The recipient of a bond must be
a certified DBE, minority-owned business enterprise or women-owned
business enterprise. These certifications must be performed by an
agency using DOT guidelines, 49 CFR Part 26. All firms certified
by the Small Business Administration as 8(a) companies are eligible
to participate in the DOT Bonding program.
Beneficiary
Eligibility: Certified Minority, women-owned
and disadvantaged business enterprises.
Credentials/Documentation:
Application and supplemental information, including a certification
letter from the recipient agency(s), using DOT guidelines 49 CFR
Part 26.
APPLICATION
AND AWARD PROCESS:
Pre-application
Coordination: Information and consultation is
available from the Office of Small and Disadvantaged Business Utilization
(OSDBU), Telephone: (202) 366-1169. This program is excluded from
coverage under E.O. 12372.
Application
Procedure: Completed applications should be
submitted to Pilot Bonding Program Agents for underwriting and
bonds are issued by one of DOT's Participating Sureties. Applicants
may obtain a copy of the application and a list for the Pilot
Bonding Agents on the OSDBU internet site at: http://osdbuweb.dot.gov
or by contacting OSDBU.
Award
Procedure: All bonds are approved and issued
directly to the DBE by the Sureties.
Deadlines:
Based upon bid or contract documents.
Range
of Approval/Disapproval Time: Bonds are issued
on-site by local agents as representatives of the Sureties.
Appeals:
Not applicable.
Renewals:
Bonds are issued on a project by project basis.
ASSISTANCE
CONSIDERATIONS:
Formula
and Matching Requirements: Not applicable.
Length
and Time Phasing of Assistance: Guarantees
run to termination of bond (usually 1 year after completion of
contract).
POST
ASSISTANCE REQUIREMENTS:
Reports:
Monthly, internal OSDBU reports; Reports to the Secretary of Transportation
on all bond approvals.
Audits:
DOT has the right to audit its accounts with the Participating
Sureties.
Records:
OSDBU and the surety agents maintain records of current applicant
files, such as approvals. Bond approvals will be maintained by
the participating sureties, with a copy provided to DOT.
FINANCIAL
INFORMATION:
Account
Identification: 69-0102-0-1-407.
Obligations:
(Guaranteed Surety Bonds) FY 01 $15,000,000; FY 02 est $15,000,000;
and FY 03 est $15,000,000.
Range
and Average of Financial Assistance:
Average dollar amount of bonds issued is $330,000.
PROGRAM
ACCOMPLISHMENTS:
During the last 3 fiscal years, an average of 70 performance and
payment bonds were issued annually, averaging a total of $15 million
a year.
REGULATIONS,
GUIDELINES, AND LITERATURE:
Public Law 97-449, 49 U.S.C.332.
INFORMATION
CONTACTS:
Regional
or Local Office: Not applicable.
Headquarters
Office: Office of Small and Disadvantaged
Business Utilization, S-40, Office of the Secretary, Department
of Transportation, 400 Seventh Street, SW., Washington, DC 20590.
Contact: Bonding Manager. Telephone: (800) 532-1169 or (202) 366-2852.
Website: http://osdbuweb.dot.gov.
Web
Site Address: http://osdbuweb.dot.gov
EXAMPLES
OF FUNDED PROJECTS:
Not applicable.
CRITERIA
FOR SELECTING PROPOSALS:
Not applicable.
