It submitted a bid bond form, using the “preferred form,” but it failed to include the project number and brief description of the project. Due to this omission, the Board held that the procurement ...

There are two types of bonds that an estimator must understand. First, there is a bid bond also called a bid security or bid guaranty. Second, there is a performance bond. Let’s take a look at the ...

“Each bidder submits a bid bond with its bid in the appropriate form decided upon by the entity seeking the bids. In the event the wrong form of bid bond is used, the party submitting the bid bond ...