The project performance bond can be refunded on the date of acceptance or at the time agreed in the contract. Performance bond: Performance bond/performance bond is a kind of financial guarantee for both buyers and sellers to ensure performance. Traders in the futures market must deposit a certain amount of performance bond when trading. The refund of the performance bond stipulates that the amount of the bond is set by the exchange that provides the contract transaction, which is usually 5- 15% of the total contract value. Of course, brokers or entrusted brokers will also set their own additional margin, which will not be lower than the level stipulated by the exchange. The performance bond emphasizes the protection of the interests of the tenderer or investors, which can be shared by the winning contractor and the third party, provided that the tenderer recognizes that the party is effective and the third party bears joint and several liabilities, so it is replaceable. The performance bond is independent and must be collected, stored, executed and returned by institutions recognized by both parties.

Legal objectivity:

Measures for tendering and bidding of construction projects

Article 85

If the tenderer fails to perform the contract concluded with the winning bidder, it shall double the performance bond of the winning bidder;

If the losses caused to the winning bidder exceed the returned performance bond, compensation shall also be made for the excess;

If the performance bond is not submitted, it shall be liable for the losses of the winning bidder.

Measures for tendering and bidding of construction projects

Article 86

If a project that must be subject to construction bidding according to law violates the law and the bid is invalid, the winning bidder shall be re-determined from the remaining bidders according to the bidding conditions stipulated by law or re-tendered according to law.

If the bid is invalid, the bid-winning notice issued and the signed contract are not legally binding from the beginning, but it does not affect the effectiveness of the independent clause on dispute settlement in the contract.