What is a Bid Bond?
20 Jul, 2016 12:31 PM
A bid bond is a type of contract bond. It is issued during the tendering process to the procuring entity as a guarantee and a sign of commitment and willingness to enter into a contract with the procuring entity. It serves as a security and a prequalification measure for a contractor’s bid during a bidding process.
Should the contractor be awarded the bid, the bond is there to guarantee that the contract will be executed at the bid price and under the conditions set forth in the bid. If the contract is not executed according to the bid, a claim against the bond can be made.
At Investeq Capital, we help companies by offering a bid bond to the procuring institution through our credible partner banks.
Come to us and let's help you get a fast and reliable bid bond that will not keep you waiting after your application and giving you burdens for hefty security, but only charges a reasonable commission after you receive it.
To learn more about our bid bond, get in touch with us on +254722403311 or visit us at Ambassador Court, Suite No. A4, Milimani Rd.
