The bank assures the buyer that the supplier will not refuse a contract if awarded. What is it called :::?

Question

CHANDA SON · Answer

WHAT IS Bank Guarantee, Letters of Credit, ALL ABOUT?

Vinod Jetley · Answer

Tender Guarantees (Bid Bonds) - whereby the bank assures the buyer that the supplier will not refuse a contract if awarded.

sarfaraz shaikh · Answer

Bid Bond / Tender Guarantee

Mohsin Patel · Answer

It;s called Tender guranteee

Emad Mohammed said abdalla · Answer

>>>>>>>>>>>>>>>>>>>>> c) Bid Bond/ Tender Guarantee

Mohammed Asim Nehal · Answer

CORRECT ANSWER IS C) Bid Bond