🏡 Bid bond
A bid bond is a type of surety bond that is often required in the bidding process for large projects. The purpose of a bid bond is to protect the project owner from financial loss if the winning bidder does not follow through with the project. The bid bond also ensures that the bidder is financially able to follow through with the project.
Note: Working on a legal issue?
Try using Genie's Free AI Legal Assistant
Generate quality, formatted contracts with AI
Can’t find the right template? Create the bespoke agreement in minutes by conversing with our AI and tailoring to your needs
Let our Legal AI make edits for you
Ask Genie to edit your document in the same way you’d ask a paralegal. Genie makes track changes, and explains its thinking just like a junior lawyer would.
AI review
Can’t find the right template? Create the bespoke agreement in minutes by conversing with our AI and tailoring to your needs