The listed below post is an excellent intro to bid bonds. Bid bonds, as you are conscious, are bonds used in the building industry. These bonds ensure that if somebody bids on a project, and is granted the agreement, then they will move forward with...
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The listed below post is an excellent intro to bid bonds. Bid bonds, as you are conscious, are bonds used in the building industry. These bonds ensure that if somebody bids on a project, and is granted the agreement, then they will move forward with carrying out under the regards to the arrangement. See the below article for more excellent details. You can see the original post here: https://swiftbonds.com/bid-bond/wisconsin-2/ Wisconsin Bid Bonds What is a Bid Bond in Wisconsin? A bid bond is one of the types of surety bonds, that guarantees that the bidder will accept the project and complete it according to its terms. The bid bond provides assurance to the project owner that the bidder has the knowhow and ability to finish the job once the bidder is selected after winning the bid. The simple reason is that you need one in order to get the work. However, the bigger question is why are more owners/developers requiring a bid bond in the first place? The basic answer is risk. Given the
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