Shamrock SBS Insurance Quotes for Surety Bonding Forum
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Value of Bid Bond
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Value of Bid Bond
by 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
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- Joined: Mon Jan 18, 2010 12:00 pm
Re: Value of Bid Bond
by 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
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