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    GSA-Optional Form 91

    Uploaded by

    Benne James
    This document authorizes the release of personal property from an escrow account held by a financial institution. The property had been placed in escrow by a surety company to ensure performance of a U.S. government contract. A government contracting officer determined that retention of the listed property was no longer required to ensure further performance or satisfy claims related to the contract. The document directs the financial institution holding the escrow account to deliver the listed property to the surety company and, if it comprised all property in the account, to close the account and return any remaining funds to the surety.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    GSA-Optional Form 91

    Uploaded by

    Benne James
    4K views1 page
    This document authorizes the release of personal property from an escrow account held by a financial institution. The property had been placed in escrow by a surety company to ensure performance of a U.S. government contract. A government contracting officer determined that retention of the listed property was no longer required to ensure further performance or satisfy claims related to the contract. The document directs the financial institution holding the escrow account to deliver the listed property to the surety company and, if it comprised all property in the account, to close the account and return any remaining funds to the surety.

    Original Description:

    RELEASE OF PERSONAL PROPERTY FROM ESCROW

    Copyright

    © © All Rights Reserved

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    This document authorizes the release of personal property from an escrow account held by a financial institution. The property had been placed in escrow by a surety company to ensure performance of a U.S. government contract. A government contracting officer determined that retention of the listed property was no longer required to ensure further performance or satisfy claims related to the contract. The document directs the financial institution holding the escrow account to deliver the listed property to the surety company and, if it comprised all property in the account, to close the account and return any remaining funds to the surety.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    4K views1 page

    GSA-Optional Form 91

    Uploaded by

    Benne James
    This document authorizes the release of personal property from an escrow account held by a financial institution. The property had been placed in escrow by a surety company to ensure performance of a U.S. government contract. A government contracting officer determined that retention of the listed property was no longer required to ensure further performance or satisfy claims related to the contract. The document directs the financial institution holding the escrow account to deliver the listed property to the surety company and, if it comprised all property in the account, to close the account and return any remaining funds to the surety.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 1

    RELEASE OF PERSONAL PROPERTY FROM ESCROW

    , of
    (Name)
    (Place of Residence)
    for the performance of U.S. Government Contract Number
    Whereas

    , by a bond
    ,

    became a surety for the complete and successful performance of said contract, and Whereas
    said surety has placed certain personal property in escrow
    in Account Number
    at

    on deposit
    (Name of Financial Institution)

    located at

    , and

    (Address of Financial Institution)

    Whereas I,

    , being a duly authorized

    representative of the United States government as a warranted contracting officer, have


    determined that retention in escrow of the following property is no longer required to ensure
    further performance of the said Government contract or satisfaction of claims arising
    therefrom:

    and
    Whereas the surety remains liable to the United States Government for the continued
    performance of the said Government contract and satisfaction of claims pertaining thereto.
    Now, therefore, this agreement witnesseth that the Government hereby releases from escrow
    the property listed above, and directs the custodian of the aforementioned escrow account to
    deliver the listed property to the surety. If the listed property comprises the whole of the
    property placed in escrow in the aforementioned escrow account, the Government further
    directs the custodian to close the account and to return all property therein to the surety, along
    with any interest accruing which remains after the deduction of any fees lawfully owed to
    .
    (Name of Financial Institution)

    [Date]

    [Signature]
    Seal

    AUTHORIZED FOR LOCAL REPRODUCTION

    OPTIONAL FORM 91

    (1-90)
    Prescribed by GSA-FAR (48 CFR) 53.228(o)

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