Government Contracts Regulations — 2
2 In these Regulations, advance payment means a payment made by or on behalf of His Majesty under the terms of a contract before the performance of that part of the contract in respect of which the payment is made; ( paiement anticipé ) approved financial institution means (a) any corporation or institution that is a member of the Canadian Payments Association, (b) a corporation that accepts deposits that are insured by the Canada Deposit Insurance Corporation or the Régie de l’assurance-dépôts du Québec to the maximum permitted by law, (c) a credit union as defined in paragraph 137(6)(b) of the Income Tax Act , (d) a corporation that accepts deposits from the public, if repayment of the deposit is guaranteed by His Majesty in right of a province, or (e) the Canada Post Corporation; ( institution financière agréée ) bid [Repealed, SOR/91-651, s. 1] bid bond means a bond given by a person to guarantee entry into a contract if the contract is awarded to that person; ( cautionnement de soumission ) bid security means a bid bond or a security deposit given by a person to His Majesty to guarantee entry into a contract if the contract is awarded to that person; ( garantie de soumission ) construction contract means a contract entered into for the construction, repair, renovation or restoration of any work except a vessel and includes (a) a contract for the supply and erection of a prefabricated structure, (b) a contract for dredging, (c) a contract for demolition, or (d) a contract for the hire of equipment to be used in or incidentally to the execution of any contract referred to in this definition; ( marché de travaux publics ) contract [Repealed, SOR/2011-197, s. 1] contract security means (a) a payment bond or a performance bond given on behalf of a person to His Majesty to make good on any default by that person under the contract by (i) compensating His Majesty therefor, or (ii) completing the performance of the contract to the extent required by the terms and conditions of the payment bond or performance bond, or (b) a security deposit given by the person to His Majesty to secure the performance of the contract to the extent required by the terms and conditions of the contract; ( garantie contractuelle ) contracting authority means (a) the appropriate Minister, as defined in paragraph (a), (a.1) or (b) of the definition appropriate Minister in section 2 of the Financial Administration Act ; (b) a department within the meaning of paragraph (a.1) of the definition of department in section 2 of the Financial Administration Act that has the legal authority to enter into a contract; (c) a departmental corporation named in Schedule II to the Financial Administration Act ; (d) any individual — other than a commissioner appointed under the Inquiries Act and any individual authorized under the Parliament of Canada Act to enter into a contract — who is authorized by or under an Act of Parliament to enter into a contract. ( autorité contractante ) goods contract means a contract for the purchase of articles, commodities, equipment, goods, materials or supplies and includes a contract for the construction or repair of a vessel; ( marché de fournitures ) government guaranteed bond means a bond of the Government of Canada or a bond unconditionally guaranteed as to principal and interest by the Government of Canada that is (a) payable to the bearer, (b) accompanied by a duly executed instrument of transfer of the bond to the Receiver General in the form prescribed by the Domestic Bonds of Canada Regulations , or (c) registered in the name of the Receiver General; ( obligation garantie par le gouvernement ) lease [Repealed, SOR/92-503, s. 1] payment bond means a bond given by a person to guarantee the payment for labour to be given or materials to be supplied in connection with a contract awarded to that person; ( cautionnement de paiement ) performance bond means a bond given by a person to guarantee the performance of a contract awarded to