Misc Anyone here work with bid bonds?

**Rain Man** · 04-22-2020, 11:02 AM

My company is wanting to submit a proposal for a project, and the client wants a bid bond. In 20+ years of business, I've never seen a bid bond requirement in my industry.

How does it work? They apparently want us to provide a check with our proposal (or pay for a surety bond, which is silly in this case). But they don't cash the check, right? Or do they? If I win the project do they take the money? And if I'm paying for a cashier's check, then what happens if I don't win the project? The cashier's check is basically cash, so now do I have to do something to claw the money back?

It's a small project, and I don't feel a need to pay for a surety bond, but it seems like giving them a cashier's check to hold is going to be a royal pain in the keester. They specifically say that they won't accept a company check.

04-22-2020, 11:02 AM	Topic Starter
Rain Man Seize life. Be an ermine. Join Date: Jul 2001 Location: My house Casino cash: $-632449 VARSITY	Anyone here work with bid bonds? My company is wanting to submit a proposal for a project, and the client wants a bid bond. In 20+ years of business, I've never seen a bid bond requirement in my industry. How does it work? They apparently want us to provide a check with our proposal (or pay for a surety bond, which is silly in this case). But they don't cash the check, right? Or do they? If I win the project do they take the money? And if I'm paying for a cashier's check, then what happens if I don't win the project? The cashier's check is basically cash, so now do I have to do something to claw the money back? It's a small project, and I don't feel a need to pay for a surety bond, but it seems like giving them a cashier's check to hold is going to be a royal pain in the keester. They specifically say that they won't accept a company check.
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