Bid bond

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Bid bond

A form of bid security executed by the bidder as principal.

bid bond

A form of bid security executed by the bidder as principal and by a surety. Also see bid security and surety
References in periodicals archive ?
In this case arising out of a construction and repair contract at the Fresno Air National Guard Station, Aeroplate submitted a bid bond to cover the value of its apparent winning bid of $7.