When can the funds retained by the Owner in accordance with the Contract be released?

The amount retained by the Owner under the provisions of the Contract shall be released  in accordance with its provisions; in default thereof, not later than the expiration of the period during which the Contractor shall complete corrective works on punch list items, upon the posting of the Contractor's Guarantee Bond.  (This provision is ambiguous; it may unduly extend the Contractor’s obligation to do corrective works.)