SECTION 90

(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.