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ARCHIVED Performance Bonds

This information has been archived and replaced by Performance Bonds (2010-01-11) E5000C

Archived Content

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Legal text for SACC item

In order to ensure that funds will be available to complete the Work 
according to the terms of the Contract, the Contractor shall, within _____ 
days after the date of this agreement, furnish the Minister with a duly 
executed performance bond substantially in the form of Annex B hereto; such 
bond shall be in the amount of $_____ being _____ percent of the Contract 
Price on the date of this agreement; the surety to such bond shall be a 
company approved by or on behalf of the Treasury Board of Canada.

Full compliance by the Contractor with this requirement shall be a 
   condition precedent to the payment of any monies to the Contractor which, 
   by the terms of the Contract, would otherwise be payable by or on behalf 
   of Canada.