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Appendix 7: FORM OF BID BOND 1 1 This bid Bond is to be provided by the Prequalified Bidder or a member thereof or a parent company of the member whose balance sheet demonstrates that it would have
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What is bid bond - form?
A bid bond form is a document that provides a guarantee from a bonding company to the project owner that the contractor will fulfill their obligations if awarded the contract.
Who is required to file bid bond - form?
Contractors who wish to bid on certain projects are required to submit a bid bond form as part of their bid.
How to fill out bid bond - form?
To fill out a bid bond form, contractors need to provide information about their company, the project they are bidding on, and the amount of the bid bond.
What is the purpose of bid bond - form?
The purpose of a bid bond form is to ensure that contractors submitting bids for projects have a financial guarantee that they will enter into the contract and provide the required performance and payment bonds if they are awarded the project.
What information must be reported on bid bond - form?
A bid bond form typically requires information such as the contractor's name, address, contact details, the project name and location, bid amount, and the name of the bonding company.
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