SECTION 141

(1) Where the Administration’s contracting partner has fulfilled its contractual obligations: (a) the final bond shall be refunded after a release order issued by the Project Owner or the Delegated Project Owner with effect from the final acceptance of the works, supplies or services, where the contract does not have a guarantee deadline, or from the provisional acceptance where the contract has such period. (b) the retention bond shall be released or the performance bond refunded after a release order issued by the Project Owner or the Delegated Project Owner with effect from the final acceptance of the works, supplies or services after the expiry of the guarantee period. (2) Upon expiry of the 30 (thirty) calendar days, the competent body shall be bound to refund the bonds or release the retention bond referred to in (1) above at the request by the Administration’s contracting partner. (3) Upon expiry of the period referred to above, the bonds shall cease to have any effect, even in the absence of the release, unless the Project Owner or the Delegated Project Owner has duly notified the contracting partner that he has not fulfilled all his obligations. (4) In this case, the bond commitment may cease to have effect only following a release order issued by the Project Owner or the Delegated Project Owner.