Where the owner is sufficiently familiar and confident of the financial and contractual capabilities of the GCs bidding for the project, the owner may not require the bid bond. This reduces the total cost of construction.

Question

Quizplus · Accepted Answer

When the owner is confident in the financial and contractual capabilities of the GCs, they may waive the need for a bid bond, which can reduce the cost of construction.

Where the Owner Is Sufficiently Familiar and Confident of the Financial