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

译者Gloria，毕业于法国顶尖的高级翻译学院，擅长翻译各种与企业设立相关的法律文件。