(1) The final bond may not be less than 2% (two percent) or higher than 5% (five percent) of the initial contract amount, plus any amounts that may arise from amendments.
(2) The performance bond shall be collected where the contract includes a warranty or maintenance period. It may not be higher than 10% (ten percent) of the initial contract amount, plus any amounts that may arise from amendments.
(3) The contract holder may replace the performance bond with a bond of the corresponding amount referred to as “proper performance bond” which shall be put up prior to the payment of each instalment.
(4) The performance bond shall not be required for contracts for intellectual services.
Official text
Transcription: Spot-checked
In force from 12-06-2018
Source page 26
The document's transcription was spot-checked against the supplied source; this does not confirm a line-by-line review of every provision.
How Lex Cameroon marks its texts →
A question about this section?
Texte français
Lex Cameroon does not hold a French version of this provision. You can read an unofficial machine translation — for understanding only, never to quote.