Bid Bond
Given by a bidder for a supply or construction contract to guarantee that the bidder, if awarded the contract within the time stipulated, will enter into the contract and furnish the prescribed performance bond. Default will ordinarily result in liability for the difference between the amount of the principal’s bid and the bid of the next low bidder who can qualify for the contract. In any event, however, the liability of the surety is limited to the bid bond penalty.
Surety Bond Resources
A landscaping bond is a type of business service bond that protects your clients from theft or fraud by employees....
A moving company bond is a surety bond that protects your customers if an employee steals or damages their belongings....
A janitorial service bond is a type of surety bond that protects your clients if an employee steals or commits...
Questions?
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