13 CFR § 115.64 - Timeliness requirement.

---
identifier: "/us/cfr/t13/s115.64"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "13 CFR § 115.64 - Timeliness requirement."
title_number: 13
title_name: "Business Credit and Assistance"
section_number: "115.64"
section_name: "Timeliness requirement."
chapter_name: "SMALL BUSINESS ADMINISTRATION"
part_number: "115"
part_name: "SURETY BOND GUARANTEE"
positive_law: false
currency: "2026-03-24"
last_updated: "2026-03-24"
format_version: "1.1.0"
generator: "[email protected]"
authority: "5 U.S.C. app 3; 15 U.S.C. 636i, 687b, 687c, 694a, and 694b note."
regulatory_source: "61 FR 3271, Jan. 31, 1996, unless otherwise noted."
cfr_part: "115"
---


# 115.64 Timeliness requirement.

There must be no Execution or approval of a bond by a PSB Surety after commencement of work under a Contract unless the Surety obtains written approval from the D/SG. To apply for such approval, the Surety must submit a completed “Surety Bond Guarantee Agreement Addendum” (SBA Form 991), together with the evidence and certifications described in § 115.19(f)(1)(ii). For purposes of this section, work has commenced under a Contract when a Principal takes any action related to the contract or bond that would have exposed its Surety to liability under applicable law had a bond been Executed (or approved, if the Surety is legally bound by such approval) at the time.

[61 FR 3271, Jan. 31, 1996, as amended at 87 FR 48084, Aug. 8, 2022]