P-32, r. 1 - Regulation respecting Contracts of the Public Protector

Section 17 Disposition versions

2012-09-01

17. For construction contracts, tender security in the form of a bond must be submitted in accordance with the requirements of Schedule 3.

Performance security or security for the contractor’s obligations with respect to wages, materials and services in the form of a bond must be submitted in accordance with the requirements of Schedule 4 or Schedule 5, as the case may be.

The bond referred to in the first or second paragraph must be issued by a financial institution that is an insurer holding a licence issued under the Act respecting insurance (chapter A-32) authorizing the financial institution to transact guarantee insurance, a trust company having a licence issued under the Act respecting trust companies and savings companies (chapter S-29.01), a financial services cooperative to which the Act respecting financial services cooperatives (chapter C-67.3) applies, or a bank within the meaning of the Bank Act (S.C. 1991, c. 46).

Decision 1462-2, s. 17.