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
Related products
Advance Payment Bonds
Get your building projects moving with the security of TMHCC’s advance payment bonds.
Developers Road & Infrastructure Bonds
Because every housing development, every retail park and every industrial estate needs infrastructure.
Performance Bonds
When it comes to your commitment to deliver, your word is your bond. Make that a reality with a performance bond.
Retention Monies Bonds
Good cashflow is crucial in the construction sector. With TMHCC’s retention bonds, you can secure contractor cashflow and your own.
Ship Building & Refund Bonds
Give your clients the security they need with TMHCC’s shipbuilding and refund bonds.