Performance and payment bonds are usually issued after a bid bond

Name: Performance and payment bonds are usually issued after a bid bond
Brand: Quizplus
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Quizplus · Accepted Answer

Bid bonds are usually required as a prequalification for bidding on construction projects. Once the bid is awarded, the successful bidder is then required to provide performance and payment bonds to ensure they adhere to the terms of the contract and pay their subs and suppliers.

Performance and Payment Bonds Are Usually Issued After a Bid