bid bond

bid bond
bid bond see bond 1a

Merriam-Webster’s Dictionary of Law. . 1996.

bid bond
A bank guarantee, for a specified price or a specified percentage of the tender price, issued by the seller to guarantee that the seller will not withdraw his bid from the tendering process before a binding contract is concluded.
Related links
Bonds, guarantees and standby credits: overview

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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  • bid bond — loc.s.m.inv. ES ingl. {{wmetafile0}} TS banc., econ. garanzia bancaria relativa alla fornitura di un appalto internazionale o di una merce da esportare {{line}} {{/line}} DATA: sec. XX. ETIMO: comp. di bid offerta e bond titolo a garanzia …   Dizionario italiano

  • bid bond — /ˈbidbond, ingl. ˈbɪdˌbHnd/ [lett. bid «offerta, cauzione» e bond «titolo a garanzia»] loc. sost. m. inv. (econ.) garanzia di offerta …   Sinonimi e Contrari. Terza edizione

  • bid bond — A bid performance bond consisting of a small percentage (1 3%) of the tender contract price, refunded to losers once the contract is awarded. Bloomberg Financial Dictionary * * * bid bond bid bond ➔ bond * * * bid bond UK US noun [C] ► …   Financial and business terms

  • Bid bond — A Bid Bond is issued by the Surety to the owner of the project in lieu of a required cash deposit. The cash deposit (usually 10% of the bid amount) is subject to full or partial forfeiture if the contractor is the low bidder and fails to either… …   Wikipedia

  • Bid Bond — A debt secured by a bidder for a construction job or similar type of bid based selection process for the purpose of providing a guarantee to the project owner that the bidder will take on the job if selected. The existence of a bid bond provides… …   Investment dictionary

  • Bid Bond — Eine Bietungsgarantie, auch Ausschreibungsgarantie (englisch: Bid Bond) ist ein Aval, das bei der Beteiligung an einer Ausschreibung gestellt werden muss, um die Solvenz des Bieters zu bestätigen und sicherzustellen, dass der potenzielle… …   Deutsch Wikipedia

  • bid bond — A bond required of one who bids in the letting of a contract for the construction of a public improvement, the purpose of the bond being to indemnify the public body against loss resulting from the withdrawal of the bid or the refusal of the… …   Ballentine's law dictionary

  • bid bond — noun : a surety bond often required of contractors bidding on construction work to provide that the bidder, if successful, shall furnish a satisfactory bond ensuring completion of the work called also proposal bond …   Useful english dictionary

  • Bid Bond — ⇡ Bietungsgarantie …   Lexikon der Economics

  • bid — 1 / bid/ vb bid, bid·ding vt: to offer (a price) for payment or acceptance vi: to make a bid: state what one will pay or take in payment a contractor bidding for a job bid·der n bid 2 …   Law dictionary

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