SECTION 93

(1) Once the public corporation’s contracting partner has fulfilled its contractual obligations: a) the final bond shall be refunded following a release order issued by the Contracting Authority upon final acceptance of work, where the contract does not specify any warranty period, or as from the provisional acceptance, where the contract makes provision for such a period; b) the performance bond shall be released following a release order issued by the Contracting Authority or after final acceptance of work, following the expiry of the warranty period. (2) Upon the expiry of thirty (30) calendar days, the competent body shall be required to either reimburse the bonds or release the performance bond mentioned in (1) above, at the request of the contracting partner of the public corporation. (3) Upon the expiry of the period referred to above, the bonds shall cease to have any effect, even in the absence of the release order, except if the Contracting Authority has duly notified the public corporation’s contracting partner that they have not honoured all their obligations. (4) In this case, the effectiveness of the bond may only be ended by a release order issued by the Contracting Authority.