Regulations for Bid Bond, Guarantee Bond and Other Guarantees Article 30

Where a supplier furnishes a price difference bond as the guarantee referred to in Article 58 of the Act, the following requirements shall be followed:1. where the total tender price is abnormally low, the amount of guarantee shall equal the difference between the total tender price and 80% of the government estimate, or the difference between the total tender price and 80% of the amount recommended by a committee referred to in Article 54 of the Act;2. where part of the tender price is abnormally low, the amount of guarantee shall equal the difference between the tender price for the part in question and 70% of the government estimate of such part. If there is no government estimate for the part in question, the budget amount or the amount recommended by the committee shall be used instead; and3. where a supplier fails to deposit a price difference bond as required, an entity may decline to award the contract to such supplier.A reasonable time-limit of not less than 5 days shall be prescribed for depositing a price difference bond. The requirements for performance bond as regards validity period, contents, release or non-release, etc. shall apply mutatis mutandis to the price difference bond.