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Old 08-26-2008, 04:50 PM
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Join Date: Oct 2007
Posts: 179
Default Bid and Bond Premiums
Should the premium of a bond be included in the amount of the bid? I am bidding soon on a pjoject and I want to include it it the bid....at least I think I should. Thanks.
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Old 08-29-2008, 07:13 PM
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Join Date: Oct 2007
Posts: 558
Default Bid Bonds
Quote:
Originally Posted by Bond Guy
Should the premium of a bond be included in the amount of the bid? I am bidding soon on a pjoject and I want to include it it the bid....at least I think I should. Thanks.
Absolutely! All (or most) Obligees fully expect to pay for the bond - but they will rarely reimburse you after a contract has been signed if the premium was not included. It is standard practice to include the cost of the performance & payment bond in your bid price.
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