Form SF-273 "Reinsurance Agreement for a Bonds Statute Performance Bond"

What Is Form SF-273?

This is a legal form that was released by the U.S. General Services Administration on April 1, 2013 and used country-wide. As of today, no separate filing guidelines for the form are provided by the issuing department.

Form Details:

  • Released on April 1, 2013;
  • The latest available edition released by the U.S. General Services Administration;
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  • Yours to fill out and keep for your records;
  • Compatible with most PDF-viewing applications;
  • Fill out the form in our online filing application.

Download a fillable version of Form SF-273 by clicking the link below or browse more documents and templates provided by the U.S. General Services Administration.

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REINSURANCE AGREEMENT FOR A BONDS STATUTE PERFORMANCE BOND
OMB Control Number: 9000-0045
Expiration Date: 8/31/2022
(See instructions on reverse)
Paperwork Reduction Act Statement - This information collection meets the requirements of 44 USC § 3507, as amended by section 2 of the Paperwork Reduction Act of 1995. You do
not need to answer these questions unless we display a valid Office of Management and Budget (OMB) control number. The OMB control number for this collection is 9000-0045. We
estimate that it will take 1 hour to read the instructions, gather the facts, and answer the questions. Send only comments relating to our time estimate, including suggestions for
reducing this burden, or any other aspects of this collection of information to: U.S. General Services Administration, Regulatory Secretariat Division (M1V1CB), 1800 F Street, NW,
Washington, DC 20405.
1A. DATE DIRECT WRITING COMPANY EXECUTES THIS
1. DIRECT WRITING COMPANY*
AGREEMENT
1B. STATE OF INCORPORATION
2. REINSURING COMPANY*
2A. AMOUNT OF THIS REINSURANCE ($)
2B. DATE REINSURING COMPANY EXECUTES THIS AGREEMENT
2C. STATE OF INCORPORATION
3. DESCRIPTION OF CONTRACT
4. DESCRIPTION OF BOND
3A. AMOUNT OF CONTRACT
4A. PENAL SUM OF BOND
3B. CONTRACT DATE
3C. CONTRACT NUMBER
4B. DATE OF BOND
4C. BOND NUMBER
3D. DESCRIPTION OF CONTRACT
4D. PRINCIPAL*
3E. CONTRACTING AGENCY
4E. STATE OF INCORPORATION (If Corporate Principal)
AGREEMENT:
(a) The Direct Writing Company named above is bound as surety to the United States of America on the performance bond described above, wherein the
above described is the principal, for the protection of the United States on the contract described above. The contract is for the construction, alteration, or repair
of a public building or public work of the United States, and the performance bond was furnished to the United States under 40 U.S.C. chapter 31, subchapter III,
Bonds, known as the Bonds Statute. The Direct Writing Company has applied to the Reinsuring Company named above to be reinsured and counter-secured in
the amount shown opposite the name of the Reinsuring Company (referred to as the "Amount of this Reinsurance"), or for whatever amount less than the
"Amount of this Reinsurance" the Direct Writing Company is liable to pay under or by virtue of the performance bond.
(b) For a sum mutually agreed upon, paid by the Direct Writing Company to the Reinsuring Company which acknowledges its receipt, the parties to this
Agreement covenant and agree to the terms and conditions of the agreement.
TERMS AND CONDITIONS:
(a) The purpose and intent of this agreement is to guarantee and indemnify the United States against loss under the performance and to the extent of the
"Amount of this Reinsurance," or any sum less than the "Amount of this Reinsurance" that is owing and unpaid by the Direct Writing Company to the United
States under the performance bond.
(b) If the Direct Writing Company fails to pay any default under the performance bond equal to or in excess of the "Amount of this Reinsurance," the
Reinsuring Company covenants and agrees to pay to the United States, the obligee on the performance bond, the "Amount of this Reinsurance." If the Direct
Writing Company fails to pay to the United States any default for a sum less than the "Amount of this Reinsurance" the Reinsuring Company covenants and
agrees to pay to the United States the full amount of the default, or so much thereof that is not paid to the United States by the Direct Writing Company.
(c) If there is a default on the performance bond for the "Amount of this Reinsurance," or more, the Reinsuring Company and the Direct Writing Company
hereby covenant and agree that the United States may bring suit against the Reinsuring Company for the "Amount of this Reinsurance" or, in case the amount of
the default is for less than the "Amount of this Reinsurance," for the full amount of the default.
WITNESS:
The Direct Writing Company and the Reinsuring Company, respectively, have caused this Agreement to be signed and impressed with their respective
corporate seals by officers possessing power to sign this instrument, and to be duly attested by officers empowered thereto, on the day and date above written
opposite their respective names.
(Over)
*Items 1, 2, 4D - Furnish legal name, business address and ZIP Code.
STANDARD FORM 273 (REV. 4/2013)
AUTHORIZED FOR LOCAL REPRODUCTION
Previous edition is NOT usable
Prescribed by GSA - FAR (48 CFR) 53.228(h)
REINSURANCE AGREEMENT FOR A BONDS STATUTE PERFORMANCE BOND
OMB Control Number: 9000-0045
Expiration Date: 8/31/2022
(See instructions on reverse)
Paperwork Reduction Act Statement - This information collection meets the requirements of 44 USC § 3507, as amended by section 2 of the Paperwork Reduction Act of 1995. You do
not need to answer these questions unless we display a valid Office of Management and Budget (OMB) control number. The OMB control number for this collection is 9000-0045. We
estimate that it will take 1 hour to read the instructions, gather the facts, and answer the questions. Send only comments relating to our time estimate, including suggestions for
reducing this burden, or any other aspects of this collection of information to: U.S. General Services Administration, Regulatory Secretariat Division (M1V1CB), 1800 F Street, NW,
Washington, DC 20405.
1A. DATE DIRECT WRITING COMPANY EXECUTES THIS
1. DIRECT WRITING COMPANY*
AGREEMENT
1B. STATE OF INCORPORATION
2. REINSURING COMPANY*
2A. AMOUNT OF THIS REINSURANCE ($)
2B. DATE REINSURING COMPANY EXECUTES THIS AGREEMENT
2C. STATE OF INCORPORATION
3. DESCRIPTION OF CONTRACT
4. DESCRIPTION OF BOND
3A. AMOUNT OF CONTRACT
4A. PENAL SUM OF BOND
3B. CONTRACT DATE
3C. CONTRACT NUMBER
4B. DATE OF BOND
4C. BOND NUMBER
3D. DESCRIPTION OF CONTRACT
4D. PRINCIPAL*
3E. CONTRACTING AGENCY
4E. STATE OF INCORPORATION (If Corporate Principal)
AGREEMENT:
(a) The Direct Writing Company named above is bound as surety to the United States of America on the performance bond described above, wherein the
above described is the principal, for the protection of the United States on the contract described above. The contract is for the construction, alteration, or repair
of a public building or public work of the United States, and the performance bond was furnished to the United States under 40 U.S.C. chapter 31, subchapter III,
Bonds, known as the Bonds Statute. The Direct Writing Company has applied to the Reinsuring Company named above to be reinsured and counter-secured in
the amount shown opposite the name of the Reinsuring Company (referred to as the "Amount of this Reinsurance"), or for whatever amount less than the
"Amount of this Reinsurance" the Direct Writing Company is liable to pay under or by virtue of the performance bond.
(b) For a sum mutually agreed upon, paid by the Direct Writing Company to the Reinsuring Company which acknowledges its receipt, the parties to this
Agreement covenant and agree to the terms and conditions of the agreement.
TERMS AND CONDITIONS:
(a) The purpose and intent of this agreement is to guarantee and indemnify the United States against loss under the performance and to the extent of the
"Amount of this Reinsurance," or any sum less than the "Amount of this Reinsurance" that is owing and unpaid by the Direct Writing Company to the United
States under the performance bond.
(b) If the Direct Writing Company fails to pay any default under the performance bond equal to or in excess of the "Amount of this Reinsurance," the
Reinsuring Company covenants and agrees to pay to the United States, the obligee on the performance bond, the "Amount of this Reinsurance." If the Direct
Writing Company fails to pay to the United States any default for a sum less than the "Amount of this Reinsurance" the Reinsuring Company covenants and
agrees to pay to the United States the full amount of the default, or so much thereof that is not paid to the United States by the Direct Writing Company.
(c) If there is a default on the performance bond for the "Amount of this Reinsurance," or more, the Reinsuring Company and the Direct Writing Company
hereby covenant and agree that the United States may bring suit against the Reinsuring Company for the "Amount of this Reinsurance" or, in case the amount of
the default is for less than the "Amount of this Reinsurance," for the full amount of the default.
WITNESS:
The Direct Writing Company and the Reinsuring Company, respectively, have caused this Agreement to be signed and impressed with their respective
corporate seals by officers possessing power to sign this instrument, and to be duly attested by officers empowered thereto, on the day and date above written
opposite their respective names.
(Over)
*Items 1, 2, 4D - Furnish legal name, business address and ZIP Code.
STANDARD FORM 273 (REV. 4/2013)
AUTHORIZED FOR LOCAL REPRODUCTION
Previous edition is NOT usable
Prescribed by GSA - FAR (48 CFR) 53.228(h)
5. DIRECT WRITING COMPANY
5A(1) SIGNATURE
(2) ATTEST: SIGNATURE
Corporate
5B(1) NAME AND TITLE (Typed)
(2) NAME AND TITLE (Typed)
Seal
6. REINSURING COMPANY
6A(1) SIGNATURE
(2) ATTEST: SIGNATURE
Corporate
6B(1) NAME AND TITLE (Typed)
(2) NAME AND TITLE (Typed)
Seal
INSTRUCTIONS
This form is to be used in cases where it is desired to cover the excess of a Direct Writing Company's
underwriting limitation by reinsurance instead of co-insurance on Bonds Statute performance bonds
running to the United States. See FAR (48 CFR) 28.202-1 and 53.228(h).
Execute and file this form as follows:
Original and copies (as specified by the bond-approving officer), signed and sealed, shall accompany the
bond or be filed within the time period shown in the bid or proposal.
One copy, signed and sealed, shall accompany the Direct Writing Company's quarterly Schedule of Excess
Risks filed with the Department of the Treasury.
Other copies may be prepared for the use of the Direct Writing Company and Reinsuring Company. Each
Reinsuring Company should use a separate form.
STANDARD FORM 273 (REV. 4/2013) BACK
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