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  #1 (permalink)  
Old 11-20-2008, 09:46 AM
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Posts: 106
Default Cancelled Bid

If I pay for an individual bid bond and the bid is cancelled for any reason, do I get my money back?
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Old 11-24-2008, 03:08 PM
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Join Date: Oct 2007
Posts: 401
Default Cancelled Bid

Quote:
Originally Posted by grasshopper
If I pay for an individual bid bond and the bid is cancelled for any reason, do I get my money back?
No, the fee that you pay for one bid bond is a processing fee. It has nothing to do with if you are awarded the bid bond or not. Even if the bid is cancelled, that money is non-refundable. Sorry!
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Old 12-16-2008, 10:36 AM
h2o h2o is offline
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Default Bid Fee

Why is there only a processing fee for bid bonds, and no premiums?
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Old 12-16-2008, 10:37 AM
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Default Cancelled Bid

Quote:
Originally Posted by h2o View Post
Why is there only a processing fee for bid bonds, and no premiums?
There is only a processing fee for bid bonds because you are not guaranteed to win the bid and be awarded the contract. Premiums come in when you ARE awarded the contract and you need to obtain a Performance & Payment bond.
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Old 12-16-2008, 10:42 AM
h2o h2o is offline
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Default Premium & Fees

Quote:
Originally Posted by Bond Magician View Post
There is only a processing fee for bid bonds because you are not guaranteed to win the bid and be awarded the contract. Premiums come in when you ARE awarded the contract and you need to obtain a Performance & Payment bond.
Will I be able to find out how much the premium is for the performance bond before submitting the bid?
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