Bid Bond

Bid Bonds are given by a bidder for a supply or construction contract to guarantee that the bidder, if awarded the contract within the time stipulated, will enter into the contract and furnish the required performance bond.  Default will ordinarily result in liability for the difference between the amount of the Principal's bid and the bid of the next low bidder who can qualify for the contract.  In any event, however the liability of the surety is limited to the bid bond penalty.

Contact Allstar today for all you Bid Bond & Performance Bond needs.