or payment bond in connection with any direct Federal procurement for a response action contract under the Trespass Cannabis Cultivation Site Remediation Program and begins activities to meet its obligations under such bond, shall, in connection with such activities or obligations, be entitled to any indemnification and the same standard of liability to which its principal was entitled under the contract or under any applicable law or regulation. (g) Surety bonds (1) Applicability of sections 3131 and 3133 of title 40 If under sections 3131 and 3133 of title 40, United States Code, surety bonds are required for any direct Federal procurement of any response action contract under the Trespass Cannabis Cultivation Site Remediation Program and are not waived pursuant to section 3134 of title 40, the surety bonds shall be issued in accordance with sections 3131 and 3133. (2) Limitation of accrual of rights of action under bonds If, under applicable Federal law, surety bonds are required for any direct Federal procurement of any response action contract under the Trespass Cannabis Cultivation Site Remediation Program, no right of action shall accrue on the performance bond issued on such contract to or for the use of any person other than an obligee named in the bond. (3) Liability of sureties under bonds If, under applicable Federal law, surety bonds are required for any direct Federal procurement of any response action contract under the Trespass Cannabis Cultivation Site Remediation Program, unless otherwise provided for by the Secretary in the bond, in the event of a default, the surety’s liability on a performance bond shall be only for the cost of completion of the contract work in accordance with the plans and specifications of the contract less the balance of funds remaining to be paid under the contract, up to the penal sum of the bond. The surety shall in no event be liable on bonds to indemnify or compensate the obligee for loss or liability arising from personal injury or property damage whether or not