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 ?
Bid Bonds or Certified Checks will be returned to unsuccessful bidders within 10 days of bid award.
8) In reaching its conclusion, the court relied on the relatively common industry practice of brokers issuing bid bonds that exceed a surety authorization.
Bid Bonds are required for all bids in excess of $50,000.
Best%s Key Rating Guide, or by an insurance company in good standing licensed to write bid bonds which is either domiciled in Louisiana or owned by Louisiana residents.
When bid bonds are requested, the awarded contractor will be required to furnish Performance and Payment Bond.