bid bond

A bond filed in public construction projects to ensure that the bidding contractor will enter into the contract.

• The bid bond is a type of performance bond. [Cases: Public Contracts 9. C.J.S. Public Administrative Law and Procedure § 12.]

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词条贡献者

双语律师Raymond，亚洲知名法学院法律专业，擅长翻译各类与生物科技与制药相关的法律文件。