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Any private watchman, guard or patrol agency or contractor, as defined by Title 23, section 1301, Virgin Islands Code, doing business with the Government of the Virgin Islands, its agencies, departments or independent instrumentalities shall submit a surety bond to the Commissioner of Property and Procurement pursuant to Title 23, section 1309, Virgin Islands Code. Any contract between the Government of the Virgin Islands, its agencies, departments or independent instrumentalities and any private watchman, guard or patrol agency or contractor shall include provisions mandating the execution of a surety bond pursuant to this section and indemnifying the Government of the Virgin Islands from any loss or damages to persons or property caused by or which occurs during the time of duty of the private watchman, guard or patrol agency or contractor.