(1) The Commission may, where applicable and in such a manner as outlined in the guidelines, include in the bidding documents a requirement for a bid bond.
(2) Forfeiture of a bid bond shall be imposed by the Commission only in the event of:
(a) a modification or withdrawal of a bid after the deadline for the submission of bids during its period of validity;
(b) refusal by a bidder to accept a correction of an error appearing on the face of the bid;
(c) failure by a successful bidder to sign a contract in accordance with the terms set out in the bidding documents;
(d) failure of a successful bidder to provide a contract bond for the performance of the contract as required by the Commission.