(1) The final bond may not be less than 2 (two) percent or more than 5 (five) percent of the initial value of the contract, increased, as appropriate, by the amount of the contract amendments.
(2) The retention bond shall be deducted or the performance bond constituted where the contract has a guarantee or maintenance period. It may not be more than 10 (ten) percent of the initial value of the contract, increased, as appropriate, by the amount of the contract amendments.
(3) The performance bond or proper performance guarantee shall not be required for intellectual service contracts.
Official text
Transcription: Spot-checked
In force from 20-06-2018
Source page 54
The document's transcription was spot-checked against the supplied source; this does not confirm a line-by-line review of every provision.
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