17(1)Where a bid bond was required in the submission of tenders for the award of a contract to which the Act and this Regulation apply, a performance bond and a labour and material payment bond shall be supplied by the successful tenderer within the time stipulated in subsection 21(4).

17(2)The performance bond and the labour and material payment bond required by subsection (1) shall be in an amount, for each bond, equal to fifty percent of the value of the accepted tender and be issued by a surety company acceptable to the Crown.

17(3)The labour and material payment bond required under this section shall be worded in a manner that is acceptable to the Crown.

17(1)Where a bid bond was required in the submission of tenders for the award of a contract to which the Act and this Regulation apply, a performance bond and a labour and material payment bond shall be supplied by the successful tenderer within the time stipulated in subsection 21(4).

17(2)The performance bond and the labour and material payment bond required by subsection (1) shall be in an account, for each bond, equal to fifty percent of the value of the accepted tender and be issued by a surety company acceptable to the Crown.

17(3)The labour and material payment bond required under this section shall be worded in a manner that is acceptable to the Crown.