Highlights
Allows for bids to be submitted on public works contracts that may otherwise be rejected in the absence of a valid bid bond.
Best For
- Contractors bidding for public work contracts
If you submit a tender for a public work contract, you may be required to post a bid bond. The bid bond guarantees that if you win the bid, you will proceed to enter into contract and to perform the work as set out your bid. It may also guarantee your obligation to provide a contract performance bond if your bid is successful.
Allows for bids to be submitted on public works contracts that may otherwise be rejected in the absence of a valid bid bond.
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