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Bond of Government Contracts

THE PUBLIC - ADMINISTRATION CONTRACT ACT

This legislation regulates contracting with the central, regional and local public administration. Any company interested in signing a government contract has to furnish the administration with a bond.
This legislation regulates contracting with the central, regional and local public administration. Any company interested in signing a government contract has to furnish the administration with a bond. LPublic-administration contracts may be for: Works / Supplies / Services / Consultancy or Assistance

Types of bonds:
PROVISIONAL BONDS (to maintain bid terms).
DEFINITIVE and ADDITIONAL BONDS (for contract performance).
BONDS SECURING PAYMENTS MADE ON ACCOUNT.
PAYMENTS MADE IN ADVANCE.
STOCKS OF MATERIALS OR MACHINERY.

Users:

All companies and professionals who bid on and sign contracts with the public administration.
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