Русско-англо-русский юридический словарь

A bid bond is issued as part of a supply bidding process by the contractor to the project owner, to provide a guarantee that the winning bidder will undertake the contract under the terms on which they bid. (Wikipedia)

What does Bid bond mean? Also known as a tender bond (or guarantee). These are used as part of the tender process to guarantee performance by tendering contractors (more commonly in international projects). (LexisNexis Legal Glossary)