Learn more about the Bid Bond policy.
A bond that guarantees the bidder will honor their bid and sign the contract if awarded.
Bid Bonds guarantee that a contractor who wins a bid will enter into the contract and provide required performance security. It protects the project owner from wasted selection processes.
If the contractor fails to accept the contract or withdraws their bid after selection, the insurer compensates the obligee (project owner) for losses up to the bond limit. This ensures only serious and capable bidders participate in tenders.
Civil and infrastructure contractors, EPC companies participating in government and PSU tenders, MSMEs and mid-size contractors seeking BG alternatives.
Request a free consultation for the Bid Bond policy.
