Bid Bonds

Bid bonds guarantee that a contractor that is awarded a contract subsequently enters into the contract and also provides any required performance and payment bonds. The amount of a bid bond is usually a certain percentage of the price of the contract.

Qualification for a bid bond demonstrates to the project owner that the contractor should be qualified to undertake the project.

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Resources

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FAQ: Contract Bonds

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Contract Bond Terminology

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Punch List for Contract Bonds

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