Bidding for public works contracts is complex and time-consuming, so those holding the bidding process, often insist upon a bid bond being in place.
The bid bond guarantees that if you win the bid, you will proceed to enter into the contract and to perform the work as set out in your bid. It may also guarantee your obligation to provide a contract performance bond if your bid is successful.
Best for
- Contractors bidding for public work contracts
Highlights
- 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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Why choose Tokio Marine HCC?
Tokio Marine HCC is a leading specialty insurance group with offices in the United States, Mexico, the United Kingdom and Europe, transacting business in approximately 180 countries and underwriting more than 100 classes of specialty insurance.
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