Value of Bid Bond

Description of your first forum.

Moderator: mike

Value of Bid Bond

Postby kirlose on Wed Jan 20, 2010 1:07 pm

What should be the value of a Bid Bond? If its goal is guarantee the performance bond, does the value of Bid Bond matters.
kirlose
 
Posts: 3
Joined: Mon Jan 18, 2010 12:00 pm

Re: Value of Bid Bond

Postby martin on Thu Jan 21, 2010 10:58 am

It should roughly be near 10% of the whole contract value. The Obligee can require only a percentage of the contract of the bid bond, which allows him to file a claim for roughly the amount of the bid spread.
martin
 
Posts: 7
Joined: Mon Jan 18, 2010 11:57 am


Return to Your first forum

Who is online

Users browsing this forum: No registered users and 1 guest

cron