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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This information has been archived and replaced by Performance Bonds (2010-01-11) E5000C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 in 
accordance with the conditions of the Contract, the Contractor must, within _____ 
calendar days after the date of contract award, provide to the Contracting 
Authority a duly executed performance bond (form PWGSC-TPSGC 505 available 
at: http://www.tpsgc-pwgsc.gc.ca/acquisitions/text/forms/forms-e.html).  
The performance bond must be ______ percent of the Contract Price and must 
be accepted as security by one of the bonding companies listed in Treasury 
Board Contracting Policy, Appendix L, Acceptable Bonding Companies (http://
www.tbs-sct.gc.ca/pubs_pol/dcgpubs/Contracting/contractingpol_l_e.asp).

If Canada does not receive the performance bond within the specified period, 
Canada may terminate the Contract for default pursuant to the default 
provision of the Contract.