Acts and Regulations

82-109 - General

Section 20
Disposition versions

Full text
20(1)Where the Crown requires a bid security deposit under section 16, the bid security deposit of the successful tenderer shall, if a contract is entered into with that person, be held by the Crown as security for the due performance of the work by the contractor.
20(2)Where the bid security deposit of the successful tenderer is in the form of a certified cheque, the certified cheque
(a) where the Crown is not a corporation or agency named in subsection 2(2), shall be deposited in the Consolidated Fund and shall bear interest in accordance with the General Regulation - Financial Administration Act, or
(b) where the Crown is a corporation or agency named in subsection 2(2), shall be deposited at interest with any Canadian chartered bank,
pending disposition under the terms of the contract and any interest shall be deemed to be and treated as an increment to and part of the bid security deposit.
20(1)Where the Crown requires a bid security deposit under section 16, the bid security deposit of the successful tenderer shall, if a contract is entered into with that person, be held by the Crown as security for the due performance of the work by the contractor.
20(2)Where the bid security deposit of the successful tenderer is in the form of a certified cheque, the certified cheque
(a) where the Crown is not a corporation or agency named in subsection 2(2), shall be deposited in the Consolidated Fund and shall bear interest in accordance with the General Regulation - Financial Administration Act, or
(b) where the Crown is a corporation or agency named in subsection 2(2), shall be deposited at interest with any Canadian chartered bank,
pending disposition under the terms of the contract and any interest shall be deemed to be and treated as an increment to and part of the bid security deposit.