Bid bond: Difference between revisions
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imported>Doug Williamson (Give fuller example and simplify wording.) |
imported>Doug Williamson (Add links.) |
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== See also == | == See also == | ||
* [[Guarantee]] | * [[Guarantee]] | ||
* [[Performance bond]] | |||
* [[Retention bond]] | |||
* [[Surety bond]] | * [[Surety bond]] | ||
[[Category:Trade_finance]] | |||
Revision as of 20:32, 3 September 2018
Trade finance.
A trade finance bond issued as part of a contract tendering (bidding) process.
The bid bond is issued by a bank or insurance company to the potential customer, to protect the customer against a contractor's failure to sign a contract in accordance with the terms of the tender.
