[i]Apart from having the very necessary requirement for bidding for a contract from government and cooperate bodies. In 2017 drastic measures will be taken before giving out contracts and the reason is simple. Every contract giving out must be dully completed at the stipulated time. If a contractor wants to fully benefit and get contracts from any government agency or cooperate body you must have a bid bond amongst other bidding requirements.

Why a Bid Bond?

A bid bond is important to show proof of guarantee to the project owner that you can comply with the bid contract and also that you can accomplish the job as laid out in the contract. A bid bond is a guarantee that you provide to the project owner stating that you have the capability to take on and implement the project once you are selected during the bidding process. Normally, project owners do not know if a contractor is financially stable or has the necessary resources to take on a project.

However, because of a bid bond, they will be more comfortable to award a project to a contractor knowing that if the project fails, they can collect compensation from the surety bond.

Where can you get this bid bond?

You can get a bid bond through your local insurance agent and through insurance companies that sell bonds through their own employees, over the phone, by mail and over the Internet. In most states, there are dozens of companies to choose from,but because is a contract winning bid bond i did recommend you talk to Chuks Ugbaja a veteran in packing a contract winning bid bond. read more...
http://theinsured.com.ng/one-key-reason-most-contractors-will-not-be-awarded-contracts-in-2017/

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