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WHAT IS A BID BOND?

 

Submitted as part of the bidding documents, a bid bond guarantees to the project owner that the contractor

  •  can comply with the bid contract and can accomplish the job as laid out in the contract;
  •  has the capability to take on and implement the project once selected during the bidding process; and
  •  is financially stable and has the necessary resources to take on the project.

 


 

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