(1) Prerequisites to the Execution of Such Agreements. No agreement under § 17-201 shall be made with any person who has:

(a) failed to comply with all applicable provisions of this Chapter;

(b) failed to perform any prior agreement made pursuant to § 17-201;

(c) failed to pay $50. for the publication of any special ordinance authorizing such agreement.

(2) Terms and Conditions Applicable to Such Agreements. Whenever the Procurement Department determines that a bond is desirable in order to protect the City, conditioned upon the proper performance of any or all obligations under agreements made pursuant to § 17-201, the Department shall require such bond as a prerequisite to make such agreement and shall give notice of such requirement when soliciting bids.[29]