When will the performance bond be returned? Is there a legal basis? thank you! Generally, it can be returned after the contractor completes the contract related matters. However, if the unit requires a maintenance or repair bond, the return time should be after the maintenance or repair bond is handled. In addition, attention should be paid to the form of performance bond collection. If the bank guarantee is adopted, it is necessary to pay attention to whether the validity period of the guarantee is consistent with the contract period to avoid the situation that the guarantee has expired but the contract period has not expired. Article 4.2 of the General Conditions of Contract in the 2007 Standard Construction Bidding Document of the People's Republic of China stipulates that the Contractor shall ensure that its performance guarantee is valid until the Employer issues the project acceptance certificate (completion certificate). The Employer shall return the performance security to the Contractor within 28 days after the issuance of the project acceptance certificate. " This provision states that the Employer shall return the performance security to the Contractor within 28 days after issuing the project acceptance certificate. Development information 1. Comprehensive clearing of all kinds of deposits. Except for bid bond, performance bond, project quality bond and migrant workers' wage bond established in accordance with laws and regulations, all other bonds required to be paid by construction enterprises in project construction shall be cancelled. Cancelled deposits shall be stopped from the date of issuance of this notice. 2、 Change the way of deposit payment. The reserved bid bond, performance bond, project quality bond and migrant workers' wage bond shall be subject to the bank guarantee system, and construction enterprises can pay in the form of bank guarantee. 3、 Return the deposit on time. For the cancelled deposits, all localities should promptly formulate specific and feasible measures to return them to relevant enterprises before the end of 2016; The retained deposit shall be strictly subject to relevant regulations to ensure timely return. If the deposit is not returned as required or agreed in the contract, the deposit collector shall pay the construction enterprise liquidated damages for overdue return. Do you understand that?
