Answer:
It serves as a guarantee that the contractor who wins the bid will honor the terms of the bid after the contract is signed.
Explanation:
A bid bond is a type of construction bond that protects the obligee in a construction bidding process.
A bid bond typically involves three parties:
The obligee; the owner or developer of the construction project under bid. The principal; the bidder or proposed contractor.
The surety; the agency that issues the bid bond to the principal example insurance company or bank.
A bid bond generally serves as a guarantee that the contractor who wins the bid will honor the terms of the bid after the contract is signed.
Native Americans who used spears to hunt were using wedges. In the third century BC, the Greek scientist Archimedes invented a way to lift water, called the Archimedes screw. It was used to water crops and to move water out of ships.
Two forces P and Q whose resultant is 10Newton are at right angles to each other. If P makes 30 degrees with resultant.Show me the workings of the magnitude of Q in Newton and the diagram of the vectors.