The Department of Transportation's mission is to ensure fast, safe, efficient, accessible and convenient transportation that meets vital national interests and enhances the quality of life of the American people, today and into the future.
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.
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.
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.
Certified minority, women-owned and disadvantaged business enterprises.
Application and supplemental information, including a certification letter from the recipient agency(s), using DOT guidelines 49 CFR Part 26.
Aplication and Award Process
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.
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.
All bonds are approved and issued directly to the DBE by the Sureties.
Based upon bid or contract documents.
Public Law 97-449, 49 U.S.C. 332.
Range of Approval/Disapproval Time
Bonds are issued on-site by local agents as representatives of the Sureties.
Bonds are issued on a project by project basis.
Formula and Matching Requirements
Length and Time Phasing of Assistance
Guarantees run to termination of bond (usually 1 year after completion of contract).
Post Assistance Requirements
Monthly, internal OSDBU reports; Reports to the Secretary of Transportation on all bond approvals.
DOT has the right to audit its accounts with the Participating Sureties.
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.
FY 07 est not available; FY 08 est not available; and FY 09 est not reported.
Range and Average of Financial Assistance
Average dollar amount of bonds issued is $330,000.
Regulations, Guidelines, and Literature
Public Law 97-449, 49 U.S.C.332.
Regional or Local 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.
Criteria for Selecting Proposals
The United Nations Intergovernmental Panel on Climate Change (IPCC) published the first of three volumes of its fifth Assessment Report (AR5). The findings of the report show that mainstream businesses have become greener, with an emphasis on reducing carbon emissions which are the key sectors for impact investment.