Bid Bonds: Guaranteeing Contractor Commitment Post-Tender Award
Bid bonds are crucial in the construction industry. They help ensure contractors adhere to their commitments. When a contractor wins a bid, they must commit to the project. This bond guarantees their follow-through. For project owners, it serves as a safety net, demonstrating the contractor’s seriousness and reliability.For contractors, it’s a chance to prove reliability. […]
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