The Region 10 administration was yesterday accused of leaving the government “exposed” through its financial practices, after the Public Accounts Committee (PAC) found that it had continued paying a contractor although the performance bond had expired.
A performance bond is a sum of money agreed upon and put in place as a security net in the case that a contractor does not deliver fully, according to the terms set out in the agreement.
The project in question was the construction of a Health Centre and Living Quarters at Wiruni, Berbice River, which was terminated by the region in 2017.
