Where government adopts the approach of using an escrow account rather than seeking a performance bond under section 30.1.4, and:
(a) the cost of the final maintenance and refurbishment works is greater than the aggregate amount of any remaining scheduled payments (until expiry); or
(b) at any time during the period from the inspection to contract expiry, the cost of any remaining works to be completed is greater than the balance standing to the credit of the escrow account at such time,
the private party must provide government with a refurbishment bond with a face value of not less than the amount of the shortfall and which expires one year after contract expiry.