Bid bond


Also found in: Financial.

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 ?
Bids Must Be Made In The Standard Bid Form In The Manner Designated Therein And Required By The Specifications, Must Be Enclosed In Sealed Envelopes Bearing The Name Of The Job And The Name And Address Of The Bidder On The Outside, Addressed To The Purchasing Agent Of Middlesex County, And Must Be Accompanied By Certified Check, Cashiers Check Or Bid Bond For Not Less Than 10% Of The Amount Bid, But Not Exceeding $20,000.
Bid Bond Broker's Questionable Conduct Not Imputed to Bidder
Because of frequent bid bond errors, many contractors' bids must be disqualified, which results in a much higher cost of completing construction.
It is required that the bidder submits with his bid either a certified check, a cashier%s check, or a bid bond payable to the City of Birmingham in the amount of $10,000.
A Bid Bond Or Certified Check For 10% Of Total Amount Is Required When Submitting A Bid Equal To Or Greater Than $10,000.
If the Base Bid or the Base Bid plus the sum of any alternates fall into the criteria above requiring a Bid Bond, the bidder shall enclose a Certified Check or Bid Bond with each bid.
Each Bid shall be submitted on the required Bid Form and must be accompanied by a Bid Bond on State Buildings Programs Bid Bond Form Sc-6.
Bidder shall submit with the bid a certified check, cashier%s check or bid bond in the amount of ten percent (10%) of the total price bid, but not in excess of $20,000, payable unconditionally to the OWNER.
Each bid shall be accompanied by a certified check, cashier%s check, or bid bond payable to the Lafayette Consolidated Government, in the amount of $500.
Bid Bond: A five percent (5%) bid bond shall be required to accompany this bid.
A performance and payment bond shall be required for all projects when a bid bond is requested.