MIC Insurance » Bidding Guarantee
Bidding Guarantee2018-03-12T17:38:10+00:00

Bidding Guarantee

Bidding Guarantee

The bid or offer guarantee is that guarantee needed to access the contests or auctions for some concessions or work or service contracts. Also known as “provisional” or “bid bond” guarantees, since they will guarantee the constitution of another definitive one that will be the ones that will be responsible for the fulfilment of the contract itself.

The tender or offer guarantee therefore ensures the formalization of the contract object of the tender or auction, in whose content the definitive bonding obligation is inserted.

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