Reconsideration of Payment of Balance of Surety Funds
B-187456: Mar 8, 1977
- Full Report:
Reconsideration was requested of a decision that Travelers Indemnity Company was not an assignee under the Assignment of Claims Act and that the Government's right of setoff against contract funds in hand was superior to any right of funds Travelers might have under a Miller Act bond surety. A Miller Act surety which has received payment in excess of its proven expenditures has no claim against Government-held undisbursed funds.