Return of the Performance Bond and the Additional Performance Bond (Works)

After the undertaking has been performed in accordance with the terms of the contract and the tender documents, any deficiencies and defects in the work have been remedied and the provisional acceptance record approved, and it has been established that the contractor has no debt to the contracting authority arising from the work, a clearance certificate from the Social Security Institution must be provided in order for half of the performance bond and any additional performance bond to be returned, and the remainder after the final acceptance record has been approved.