Where a construction contract provides for the exchange of performance bonds for a defects bond in the form of an unconditional bank guarantee, and the contract does not contain an express negative stipulation limiting recourse to the defects bond, the principal may call on the defects bond upon possessing a bona fide claim without notice to the contractor. The conditions applicable to performance bonds under the contract apply equally to the defects bond. A reference to certification of liquidated damages 'under' a progress payment clause brings the certification into the same provisional process but does not impose a condition precedent of a payment claim by the contractor.
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