Performance bond (Art Clause Samples
Performance bond (Art. 25 to 33)
Performance bond (Art. 25 to 33)
1° For provisional acceptance: This is equal to a request to release the first half of the performance bond
Performance bond (Art. 25 to 33)
1) the deposit receipt of the Deposit and Consignment Office or of a public institution with an equivalent function or
2) a debit notice issued by the credit institution or the insurance company or
3) the deposit certificate issued by the State Cashier or public institution with an equivalent function or
4) the original copy of the deed of joint surety stamped by the Deposit and Consignment Office or by a public institution with an equivalent function or
5) the original copy of the deed of undertaking issued by the credit institution or the insurance company granting a guaranty. These documents, signed by the depositor, must state why the performance bond was posted and its precise usage, consisting of a concise indication of the subject-matter of the procurement contract and a reference to the procurement documents, as well as the name, first names and full address of the contractor and, where relevant, that of the third party that made the deposit on the contractor’s account, bearing the statement "lender" or "mandatory" as appropriate. The period of 30 calendar days specified above is suspended during the period of closure of the contractor’s business for paid annual holidays and the days off in lieu stipulated by regulation or by a collective binding labour agreement. Proof that the required performance bond has been posted must be sent to the address that will be mentioned in the contract conclusion notification. The contractor's demand to proceed to final acceptance equals a request to release the complete performance bond.
Performance bond (Art. 25 to 33)
2° a debit notice issued by the credit institution; or
Performance bond (Art. 25 to 33) Request by the contractor for the acceptance procedure to be carried out:
1° For the provisional acceptance: This is equal to a request to release the first half of the performance bond;