Victorian Consolidated Legislation

EastLink Project Act 2004 - SECT 31

Agreement may require performance bond or other security

31. Agreement may require performance bond or other security



(1) The Agreement may require the Freeway Corporation to provide or enter into
a bond or other arrangement for payment to secure performance of the
Agreement.

(2) The State may recover any money payable under a bond or arrangement
referred to in subsection (1) even if the requirement in the Agreement for the
provision of the bond or arrangement or the payment of any amount under the
bond or arrangement is a penalty.