Bid Bond
A bid bond is an essential aspect of the contract bidding process when dealing with contractors and project owners. If you wish to bid on a job, then you must have a bid bond in place. It acts a guarantee that the bidder will enter into the contract if they are awarded the job. Furthermore, a bid bond also ensures that the contractor will find the correct payment and performance bonds to help support the contract, meaning they can carry it out to the best of their abilities.
